Quantum Bit Induction Technology Inc. Announces a 10 - 1 Forward Split of Its Common Stock
HOUSTON, TX -- (MARKET WIRE) -- 08/11/06 -- Quantum Bit Induction Technology Inc. (PINKSHEETS: QBIT) announced today that the process for a forward split of its shares of its common stock, 10-for-1, is being completed. The anticipated effective date will be announced.
"We believe that this forward split increases liquidity for our common shares and increases shareholder value for our existing stockholders," said Mike Skillern, QBIT President.
Quantum Bit Induction Technology Inc. Announces a 10 - 1 Forward Split of Its Common Stock
HOUSTON, TX -- (MARKET WIRE) -- 08/11/06 -- Quantum Bit Induction Technology Inc. (PINKSHEETS: QBIT) announced today that the process for a forward split of its shares of its common stock, 10-for-1, is being completed. The anticipated effective date will be announced.
"We believe that this forward split increases liquidity for our common shares and increases shareholder value for our existing stockholders," said Mike Skillern, QBIT President.
.045 x .05! Keep going up!
Posted by wadeinni on :
Holy crap look whats going on. PR comes out insiders start selling. Look at the level 2. It's like walking through a mine field One wrong move etc etc
Posted by djg7 on :
L2s looking thin to .08.
Posted by superman7 on :
the ask just looks so thin and with shakerzzz buying this can go huge
Posted by Zodiac on :
hey guys im new can some one tell me simple version of forward split thanx
Posted by fhalyesss on :
Hey super, did the group play realise that news was coming out or is this just coincednce??
Posted by bksundar on :
Anyway, it is going down now...
Posted by Daddy Warbucks on :
Well it all sounded good...lol
Posted by Daddy Warbucks on :
there goes something
Posted by bksundar on :
I guess volume today of over 7m vs average volume of a few thousands, is too hard to ignore....
Posted by Superbee383 on :
quote:Originally posted by Zodiac: hey guys im new can some one tell me simple version of forward split thanx
Example: You owned 1000 shs of ABC.... with a forward split of 10:1, you will have 10,000 shs. BUT, the price is divided by 10. So if the price is .05, the NEW price will be .005 (notice 1,000 x .05 = $50.00 and 10,000 x .005 = $50.00)
In a reverse split. You owned 10,000 shs of XYZ. If the reverse split is 1:10, your shares will go down to 1,000 shs. AND the price is multiplied by 10. So if the price was .05, the new price will be .50 (10,000 x .05 = $500.00 and 1,000 x .50 = $500.00)
Hope that wasn't too confusing!
Posted by Zodiac on :
hey superbee i umderstand that, thanx for more help than you know, im in a much better postion than i thought
Posted by Ironcross on :
shorting this pig even more here
Posted by bksundar on :
It was a quick pump and dump on 8/11/2006
Posted by Ironcross on :
looks to be going subpenny
Posted by Ironcross on :
Plenty more to short if people keep buying
Posted by dmxbr9 on :
lookin for a bounce here, solid .01, and at 52wk low
![[Big Grin]](biggrin.gif)