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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Lars who wrote (5582)6/4/1999 1:14:00 AM
From: Carl R.  Read Replies (3) of 15132
 
**** News flash from CR Newswire *******
1:00 AM Eastern

After carefully studying the QNET transactions from last Novemeber (a reverse split with price adjustment) and January (a stock dividend with no stock price adjustment), justabid.com spokeperson Lars announced that they had revised their earlier plan to issue a 100-1 stock dividend and freeze the price, thereby raising the market cap by 100 times.

Under the new revised plan the stock dividend will be preceded by a 1-1000 reverse split with the stock price being adjusted up accordingly to 1000 times the price at the close of business on June 3. Then immediately following this reverse split, a stock dividend of 1000-1 will be declared with no adjustment in the price of the stock. This will result in a 1,000 fold increase in the market cap rather than the previously declared 100 fold increase, and will result in the same number of shares outstanding after the transaction as before it, thereby eliminating the need to do any paperwork.

When questioned how this was possible, spokesperson Lars said "We are now in a new era, and conventional valuation methods no longer apply. Since justabid.com is not now profitable, and never will be, we need not be concerned about conventional valuation tools such as PE ratios. justabid.com is a critical part of the internet, and can be expected to grow rapidly. Therefore justabid.com should be in every portfolio. It is important in examining this transaction to realize that this is a stock dividend, and not a split, so there is no reason to adjust the stock price for the second stage of the transaction."

This news release contains forward-looking statements made with our eyes closed that involve material risks and uncertainties that will cause actual results to differ materially from those anticipated by the statements made herein. Investments in justabid.com may not be suitable for any investors.
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