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Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO) -- Ignore unavailable to you. Want to Upgrade?

To: antibash who wrote (10265)	12/8/1998 7:02:00 AM
From: John Brockman	Read Replies (2) \| Respond to of 13091

From the Stockdetective, Nov 23, 1998, on WSASD that changed to CGEE. World Star Asia, Inc. (OTC BB: WSASD) managed to finagle a market cap of more than $58 million recently, even though it has neither a product or a surefooted plan. "The company currently is a development stage company and has no business operations at this time," a Nov. 9 press release said. "The company is in the process of looking for a viable business opportunity." Someone must have had a hunch, because four days later the company's stock surged briefly to $8 per share, making it more valuable (on paper) than medical lab Dianon (Nasdaq: DIAN), $56.7 million, or the Audio Book Club (AMEX: KLB), $51.4 million. Then, a curious thing happened. The stock split. Not a reverse split, as one might expect from an out-of-nowhere company, but a 3-for-1 split whittling share prices down to $2.50. Among other things, this made brokers soliciting WSAS shares subject to penny stock rules, which can be a barrier to liquidity. Besides that, it just seems odd. The company's explanation: stranger still. WSAS is in negotiations with two Eastern European gentlemen who are looking for a public vehicle through which to market their invention, which they claim turns waste oil into diesel fuel. "They wanted more stock," explains Dave Parry, WSAS's investor relations representative. Even though it was "more" in sheer volume only, since the split gave it the same value? Yes, Parry said. "What makes sense to you and me, may not be the way they see it," Parry said referring to the European entrepreneurs. Parry said a deal was being wrapped up last weekend that would dictate exactly how much stock the Europeans get in exchange for WSAS's empty shell. Before the deal was done, but after the Nov. 11 split, there were 8.48 million shares outstanding, including 7.5 million in the float and about 900,000 shares restricted under rule 144. Parry also said that once WSAS got into the waste oil refinery business, it planned to raise more capital, although he could not say how. He did say he expected the money to come from Belgian investors. Also, take a look at this post: exchange2000.com I think I will stick with GRNO John