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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (24372)	3/26/2002 8:11:40 AM
From: Joe Copia	Respond to of 25711

I question why BSNW is doing a 1:4 reverse split. OS will only be ~1.6mil. How does this help liquidity? How does "This recapitalization more closely aligns the Company with the requirements of an exchange or Nasdaq listing"(see bold below) B: Brands Shopping Network Announces Reverse Stock Split PHOENIX, Mar 26, 2002 (BUSINESS WIRE) -- Brands Shopping Network, Inc. (OTCBB:BSNW), a leader in the development of a proprietary home shopping channel featuring name brand products, today announced that its Board of Directors has approved a 1-for-4 reverse split of the Company's outstanding common stock. This decision was authorized by an overwhelming percent of voting shareholders. Wendy Borow-Johnson, president and chief executive officer, said, "Management believes the reverse split will help preserve the liquidity and marketability of our common stock. This recapitalization more closely aligns the Company with the requirements of an exchange or Nasdaq listing which is viewed as one facet of the overall plan to improve shareholder value." The record date for this transaction was March 8, 2002. The reverse stock split is expected to take effect on or about April 10, 2002. Upon the effectiveness of the reverse stock split, four shares of common stock will be converted and reclassified as one share of post-split common stock, and each existing stock certificate will represent one-fourth the number of shares shown thereon. Fractional shares will be rounded up. Brands Shopping Network, Inc. will enable national retailers to use entertaining content to reach millions of targeted consumers creating new marketing channels for established national retailers for their branded products. 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. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated by these statements. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new production, license and sign artist agreements; and the unpredictable nature of consumer entertainment preferences; as well as other factors set forth in the Company's most recently filed Form 10 reports. The forward-looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. Brands' assumes no obligation to update the statements contained in this release. CONTACT: Brands Shopping Network Mark Doumani, 949/757-0569 mdoumani@bsc.tv or Shareholder Relations John Lefebvre, 303/457-2852 john@shareholder-relations.net