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

To: Bill Monahan who wrote (383)6/30/1998 3:00:00 PM
From: TraderGreg  Read Replies (1) | Respond to of 2493
 
Thanks for the info. I did not know that.

TG



To: Bill Monahan who wrote (383)6/30/1998 3:05:00 PM
From: jmt  Read Replies (3) | Respond to of 2493
 
Bill:

There is nothing in that article that states companies are allowed to issue shares in excess of those authorized. The only mention is that when conversions exceeded authorized shares and the company stopped converting, they were sued. It then becomes a legal issue.

It is like having a license to print money.

And in a reverse split, the authorized shares get reduced accordingly.

jmt


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