Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Chester Holdings, Ltd. - CHES -- Ignore unavailable to you. Want to Upgrade?

To: Jim Bishop who wrote (684)	6/10/1999 8:35:00 PM
From: Ga Bard	Read Replies (1) \| Respond to of 1174

Well the difference is if they are applying to the SEC for fully reporting status FIRST. You are correct on a non reporting scenario about just RS it for the heck of it. The news release states clearly ... Initially the Firm will work with the Company to prepare all necessary regulatory filings required for the Company to become fully reporting. Another words no one is going to come into the shell without first being reporting. Secondly the release states ... The Company has also begun the process of selecting an accounting firm to assist it in the preparation of its periodic SEC reports. Once all required filings are completed Chester Holdings, Ltd. expects to be able to work with potential acquisition candidates on the restructuring of the Company and capital raising projects. Now this wording means they are if fact dealing with the SEC to become fully reporting. They do not want to tick off the SEC by doing RS while talking to the SEC. If they were not talking to the SEC then I would agree with you absolutely. I just read things different I guess. This is why I accumulate certain stocks. One more note ... Frohling Hudak & McCarthy of Roseland are one heck of a good reputable firm and are not going to side swipe the SEC with some lame out of sequence reverse split. Most that have done research on reverse splits that are talking to the SEC will tell you the SEC hates sudden changes when a company is applying for fully reporting status. Now on the local level the company is a NJ corporation and like Delaware which means they have to have major shareholder vote in either consent or vote to do such an action. Also O'shea stated it all depends on the deal which is after all of this. That tells me he is not go to consider it until after being fully reporting. Now one more tidbit ... These guys know the SEC has tagged the Pignatiellos before and O'Shea is going to go by the book on what he is about to do. Now this is my opinion and why I feel comfortable in accumulating CHES. Hope think makes some sense to you. :-) GB