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Strategies & Market Trends : CNHH ... Greece Shipping Company -- Ignore unavailable to you. Want to Upgrade?

To: Rande Is who wrote (9)	2/10/1998 8:33:00 PM
From: Ga Bard	Read Replies (1) \| Respond to of 92

Excellent post Rande ... The news stated they were out of business and dormant until the last 8 K which is an operating casino in Las Vegas. Now it has a profitable company and I expect a ticker change just like MIDL. There are a lot of shells just laying dormant out there. This one is reporting and that is a positive. Everything so far looks really good for this stock with this acquistion. I agree the 100:1 was bad but it has nothing to do with what is happening now. After 8 years of laying dormant and out of business it now has an operating casino and as later in the month a profitable shipping company in Greece. Good reseach but out of date and no bearing what so ever on what is happening now. Happy Trading GaBard

To: Rande Is who wrote (9)	2/10/1998 9:01:00 PM
From: Due Diligence	Read Replies (2) \| Respond to of 92

Ask yourself this question. Why would a private company go into this shell? Because of the stock structure and NO debt associated with the shell. This happens all the time with when private companies want to go public. They look to this type of shell and then change the ticker. It is cost efficent. Jimbo Breakdown: 3,450,000 shares fully deluted. 2,500,000 was given to DRC in Restricted shares leaving 950,000 shares not accounted for. 100,000 shares have been cancelled,according to the Company. leaving 850,000 in the float 370,000 held by insiders(144) LEAVING ONLY 480,000 IN THE FREE TRADING FLOAT. According to the company and SEC rules the 144 has to be registered to have the restriction lifted and can only sell 1% of the average daily volume over the course of a quarter(3 months) This explains why some corporate officers take 2-3 years to sell their stock position if they so desire. This was set-up by the SEC to protect the company and its shareholders from a disgruntled ex-employee trying to dump shares.