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Technology Stocks : GateField (GATE)
GATE 36.05-1.3%Apr 1 12:00 PM EST
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To: grace who wrote (3674)5/25/1999 9:54:00 PM
From: easytarget  Read Replies (1) of 4005
 
Grace

I read the proxy statement as stating that both common shares AND preferred shares would be affected by the reverse split. Also all stock options, warrants, etc. would be similarly affected. In fact the only number that wasn't to be adjusted by the ten to one reverse split was the 65million shares authorized. Instead of 41million shares issued and 24million shares authorized but unissued, we would have 4.1million shares issued and 61million shares authorized but unissued.

This doesn't mean I am going to vote for the reverse split. After all this does increase the authorized shares by a huge amount. But this is not solely on the backs of the small investor. All investors are treated equally.

EZ
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