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Microcap & Penny Stocks : UNIVERSAL EXPRESS INC - USXP -- Ignore unavailable to you. Want to Upgrade?


To: MMpro who wrote (352)6/30/1998 1:47:00 PM
From: Coolbreeze  Read Replies (2) | Respond to of 2493
 
So few shares, actually that 1-1.5 mil is over the amount of approx. 500,000 shares based on a conversion of 37,000,000 shares divided by 70. So, in all actuality the new share tally of 1-1.5 mil is quite displeasing in my eyes. Still waiting for more answers from the company. I will hold onto my shares until I see the company either to fall flat on their face or to be proven to be fraudulent in their pending acquisitions.

CB



To: MMpro who wrote (352)6/30/1998 1:49:00 PM
From: Jon Scott  Respond to of 2493
 
You're on the right track
Companies that reverse split generally get a refueled cache enabling them to go ahead with M +A .
Previous shareholders will get screwed and suffer exponential dilution.



To: MMpro who wrote (352)6/30/1998 2:01:00 PM
From: TraderGreg  Read Replies (4) | Respond to of 2493
 
If they have 1 to 1.5 million shares after the 1 for 70, then they would have had 70 to 105 million BEFORE the split. Since only 50 million were authorized, when was the vote taken to increase the authorized and when did they register those extra 20 to 55 million shares?

TG