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Microcap & Penny Stocks : PICK Communications Corp. Press release -- Ignore unavailable to you. Want to Upgrade?

To: Al's Fun who wrote (711)	7/21/1999 12:21:00 PM
From: MakeMoney	Read Replies (2) \| Respond to of 746

To "Al's Fun". Thanks but NO THANKS!! i just found out that this company is going to be doing a REVERSE STOCK SPLIT!! that is all that i need to know to tell me that i want absolutely NOTHING to do with investing in this company - at least not for now. Yes - i may invest in PICK after - AFTER - the reverse stock split has happened - and the stock price has DRIFTED BACK DOWN TO ABOUT WHERE IT IS TODAY. by that time the all important "float" will only be about one-tenth (1/10) of what it is today!! obviously - i absolutely HATE reverse stock splits - and for some very valid reasons. furthermore - i am most definitely not the only stock market investor who feels this way - HARDLY!! almost every PROFESSIONAL stock market investor that i know firmly believes that reverse stock splits are simply nothing more then very stupid - totally MISguided - stock market types of GIMMICKS that some companies do to simply try to get listed on the NASDAQ - PERIOD!! anyway - Good Luck to you, my friend. i truly do hope that i am wrong but i honestly do believe that you are now going to really need it!! take care.

To: Al's Fun who wrote (711)	7/21/1999 12:24:00 PM
From: FreekBro	Respond to of 746

Okay, who's gonna pony up some cash? biz.yahoo.com Wednesday July 21, 8:52 am Eastern Time Company Press Release Pick Communications Completes Private Placement and Seeks Immediate Funding for Operations Board of Directors Approves 1-for-10 Reverse Stock Split to Support NASDAQ Listing and Increase Institutional Ownership MIAMI--(BUSINESS WIRE)--July 21, 1999-- PICK Communications Corp. (OTCBB:PICK - news) today announced that during the last three months it completed a $5 million private placement of Series D preferred stock held by private investors and Tri-Links Investment Trust, which is managed by Long Drive Management Trust, a Nomura Group company. The Series D preferred stock is convertible into common shares at 42 cents a share, with 700,000 warrants exercisable at 63 cents a share. PICK also announced that it is actively engaged in securing additional working capital for the company, which is needed immediately to fund operations. ''These and other planned actions underscore our ongoing commitment and determination to strengthen our financial position and accelerate the full-fledged commercial launch of the PICK Sat broadband satellite-delivery platform,'' said Diego Leiva, chairman of PICK. PICK further announced today that its board of directors approved a 1-for-10 reverse split of PICK Communications common shares for shareholders of record at the close of business on July 23, 1999. Effective Monday, July 26, 1999, the company's common stock will trade on the Over-the-Counter Bulletin Board on a reverse-split basis with the symbol ''PICKD''. ''This action has several important objectives,'' said Leiva. ''The reverse split will raise our share price to a level appropriate for NASDAQ listing and enable us to attract institutional investors, who are unable to purchase PICK stock at the current price level.'' PICK Communications Corp., headquartered in Wayne, N.J., operates PICK Sat Inc., headquartered in Miami, Fla., which provides satellite-based Internet access and interactive multimedia services to end-user service providers, and PICK Online.Com Inc., a media-content aggregator and satellite multicast delivery service for Internet Service Providers (ISPs) and Broadband Networks, including Cable Modem and Asynchronous Digital Service Line (ADSL) service providers. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbors created thereby. These statements are not guarantees of future performance. The Company's actual future results could differ materially from the forward-looking statements discussed herein or implied by such forward-looking statements. The risks and uncertainties associated with these statements include the Company's ability to implement its new business plan and strategy and launch its PICK Sat services, the Company's immediate need for additional funding, the repayment of substantial short-term indebtedness, significant and continuing losses, dependence on a limited number of clients, dependence on and obligations to third-party carriers, dependence on the Internet, timely development and acceptance of new products in the constantly evolving Internet industry, the impact of competitive products and pricing, government regulations and the other risk factors detailed from time to time in the Company's SEC reports. The forward-looking statements contained in this press release speak only as of the date hereof and the Company disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in the Company's expectations or future events. Contact: Media: Reid Gearhart The Dilenschneider Group 212.922.0900 or Investors: Vincent Daniels Lippert/Heilshorn 212.838.3777