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Microcap & Penny Stocks : A Wall Street West Newswire Discussion Board -- Ignore unavailable to you. Want to Upgrade?

To: Stallone who wrote (163)	7/31/1998 9:07:00 PM
From: JC Reddy	Respond to of 456

Surely Interesting. ININ went up because of day traders who don't have a clue. For those who don't know, it went up because of 100:1 stock split announcement. That's right, 100:1! Have you heard of anything like that before? What it means is: Outstanding float = 631,000,000 shares (Yes, 631 million!) Float: 70,000,000 (70 million!) Market Cap as of today is about $30 million. For a company that doesn't have any revenues or profits. Talk of a scam - I think ININ looks like the worst of all. I wonder if Daryn still posts on different names... - JC

To: Stallone who wrote (163)	7/31/1998 11:27:00 PM
From: Charles Kalb	Read Replies (2) \| Respond to of 456

Hi Stallone.........I read ININ's news release of the 100 for 1 forward split (FS) only 20 minutes to market close on Wednesday. I did all of 10 minutes of DD, but what convinced me to buy was the realization that, whereas large reverse splits (RS) are the kiss of death for speculative stocks, both before and after the split, this large FS surely should have positive short-term and perhaps longer-term effect on the stock price. I took a position at $1.31 four minutes before the bell, paying the highway robbery 27% spread. I think very few people had seen the release at that point in time. You know the rest. ININ moved up nicely two days running now. I sold half today at 3.50 to recover my investment and some profit. Still have 1000 free shares left which will become 100,000 shares on Aug.8, the distribution date. Please don't interpret this as bragging; I'm just pleased something worked in my favor for a change. I think management did a large FS like this because the stock was totally illiquid, often trading just a couple hundred shares a day. Maybe they have products (vending cigar humidors) that have a chance to build a profitable business. I'm sure listing requirements of a larger exchange are not their top priority right now as they are just starting up. August 10th might be an interesting trading day with 100-times as many shares available. Charles