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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Qone0 who wrote (32731)	3/3/2000 2:13:00 AM
From: SSP	Read Replies (2) \| Respond to of 150070

The big big news is, of course, MPTV asking its shareholders to approve a 1-20 reverse stock split. This would take the current float from from 950,000,000 to 47,500,000. They are also being asked to amend MPTV's Articles of Incorporation to increase the number of authorized shares of common stock from 47,500,000 (post-split) to 950,000,000. The number of outstanding shares of common stock would remain unchanged as a result of this amendment, giving MPTV the opportunity to issue up to 902,500,000 additional shares of common stock. So: first you reduce your number of shares, which brings the price per share up. Then you bring the number of available shares back up to its original level, at a newly increased price, and Bingo! You raise a whole lot of money without the need for taking out a loan. Theoretically. The company's stock shot up to around 18 cents-- and then dropped like a rock to finally settle under 12 cents per share as of 4 pm. 11+ cents is still a lot better than the miserable less-than-a-penny it was several weeks ago-- before the Summary Judgement being asked for against them in court was denied. thetimesharebeat.com