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We hope everyone enjoyed their Labor Day weekend.
Reader update on SSCP.
On Aug July 26 the company announced its Board of Directors approved a 15
for 1 stock split of its common shares. Recently a proxy was sent out
announcing a shareholder meeting on Sept. 19th to vote on several issues
including the 15 for 1 forward split. In the July 26 Press Release the
company stated "The Company plans to effect its 15 for 1 stock split
within 10 days of approval by the shareholders."
On Aug 30, the company announced the acquisition of ePiggybank.com, a
financial website for kids. ePiggybank.com is a financial and educational
website that instructs kids on a ``learn by doing'' basis to become
financially literate so that they will be intelligent savers, investors
and spenders as they grow up. The base elements of ePiggybank.com are
Savings, College Funds, Banking Instruments and Cyber-cash. Each child
develops their own home page, which is password protected, on which they
can track how much they spend and invest.
SSCP announced on June 20, 2000 major revision in its management and
growth strategy. The company's goal is to become a major holding company,
adding shareholder value through acquisition, and possible spin-off of
acquisition.
Note: In the past, forward stock splits have seemed to have an, phenomenal
affect on OTCBB traded companies. An example of a forward stock split is,
if you have 100 shares and the split is 3 for 1, you will have 300 shares
after the forward stock split occurs, the the price of the stock will
reflect the 3 for 1, your holdings will basically remain the same value.
Shareholders still must vote on SSCP's stock split.
Best to all,
TheEarlyEdition.
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