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Microcap & Penny Stocks : NAMX -- North American Expl.-- Que Sera Sera! -- Ignore unavailable to you. Want to Upgrade?

To: bob who wrote (4191)	7/31/1998 1:48:00 PM
From: pbill	Read Replies (1) \| Respond to of 4736

Someone try to explain this to me. The company is going to reduce the # or shares (200,000,000) by 100-1 split, this would leave a total of 2,000,000 shares in the company, they are also going to reduce the "authorized shares by 100-1, to me this means that the # of authorized shares will not exceed (200,000,000, divided by the 100-1 reduction of authorized shares this means "to me" that there will only be a total of 2,000,000 authorized to be sold, and tells me that the board will have access to 1/100 of 56,000,000 shares to uses as these "options" thus 56,000 total shares (post split) if the share price also lucks out and opens/closes 8/7 at the 100-1 difference, the price will be around $2.50 / share. Heaven forbid if what I am reading instead means that all the shareholders together will share in a 2 million share pool, while thes 5 guys on the self appointed, and cloaked board will have access to 56 million "new" shares, if that is the case, when these options become available does the number of authorized shares change from 2 million plus the other 56 million? if so that means when it is all said and done the pre-split # of shares will go from 200 million to 5 billion 800 million shares. with the self appointed board holding 5 billion 600 million shares and the shareholders who buy the stock to pay their salary a measley 200 million pre split shares