posted
This one should have run in a day or two (!!! MMs like to unload inventory before R/S!!!)
from SCHEDULE 14C:
NOTICE OF ACTION TO BE TAKEN PURSUANT THE WRITTEN CONSENT OF STOCKHOLDERS HOLDING A MAJORITY OF THE OUTSTANDING STOCK OF THE COMPANY IN LIEU OF A SPECIAL MEETING OF THE STOCKHOLDERS, DATED SEPTEMBER 15, 2006
To Our Stockholders:
NOTICE IS HEREBY GIVEN that the following action will be taken pursuant to a written consent of a majority of stockholders dated September 15, 2006, in lieu of a special meeting of the stockholders. Such action will be taken on or about *, 2006:
1. To Amend the Company's Certificate of Incorporation, as amended, to decrease the number of authorized shares of common stock, par value $.001 per share (the “Common Stock”), of the Company from 15,000,000,000 shares to 1,500,000,000 shares;
2. To Amend the Company's Certificate of Incorporation, as amended, to effect a reverse stock split of the Company’s issued and outstanding shares of Common Stock at the ratio of 1,000 for 1;
3. To ratify the selection of Russell Bedford Stephanou Mirchandani LLP as independent registered public accounting firm of the Company for the year ending February 28, 2007;
5. To adopt the Company’s 2006 Incentive Stock Plan.
OUTSTANDING SHARES AND VOTING RIGHTS
As of September 15, 2006, the Company's authorized capitalization consisted of 15,000,000,000 shares of Common Stock, of which 9,036,025,096 shares were issued and outstanding as of the Record Date. Holders of Common Stock of the Company have no preemptive rights to acquire or subscribe to any of the additional shares of Common Stock. As of the Record Date, the Company also had 800,000 shares of Series A convertible preferred stock issued and outstanding. Each share of Series A convertible preferred stock is entitled to voting rights equal to 9,000 times the number of shares of Series A convertible preferred stock held.
Each share of Common Stock entitles its holder to one vote on each matter submitted to the stockholders. However, as a result of the voting rights of the Series A convertible preferred stockholders who hold at least a majority of the voting rights of all outstanding shares of capital stock as of September 15, 2006, will have voted in favor of the foregoing proposals by resolution dated September 15, 2006; and having sufficient voting power to approve such proposals through their ownership of capital stock, no other stockholder consents will be solicited in connection with this Information Statement. Paul S. Lipschutz holds 750,000 shares of Series A convertible preferred stock and 87,881,896 shares of common stock, Jay Lipschutz holds 50,000 shares of Series A convertible preferred stock and 939,641 shares of common sotck; and Marilyn Lipschutz holds 200,000 shares of Series A convertible preferred stock and 3,500,000 shares of common stock. Combined, they hold 9,092,321,537 votes out of a total of 18,036,025,096 possible votes on each matter submitted to the stockholders. Paul S. Lipschutz, Jay Lipschutz and Marilyn Lipschutz are the shareholders who will have voted in favor of the foregoing proposals by resolution dated September 15, 2006.
Pursuant to Rule 14c-2 under the Securities Exchange Act of 1934, as amended, the proposal will not be adopted until a date at least 20 days after the date on which this Information Statement has been mailed to the stockholders. The Company anticipates that the actions contemplated herein will be effected on or about the close of business on *, 2006.
Posts: 1580 | From: World | Registered: Jul 2006
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posted
i'm already on it and i agree that this will run !!! i doubt you'll get it *.0001 now but you met get lucky . but even * .0002 it should still do very well . they've had a lot of good news lately and this 1-1000 r/s should send this baby up like a friggen rocket !!! good luck !
Posts: 30 | From: lincoln , me. | Registered: Jun 2006
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quote:Originally posted by quickpicker: Is it possible to buy this at .0001 right now.
don't see a problems with that at all - gonna be panic selling on Monday until peps will see the potential.
Posts: 1580 | From: World | Registered: Jul 2006
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posted
it's not just the r/s its some of thier other recent news too . this really should do well but i have benn wrong before just not often .
Posts: 30 | From: lincoln , me. | Registered: Jun 2006
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posted
I loaded up on this five months ago at .0001 . It's been sitting in my dead letter file doing nothing ever since. Like an old toy that fell behind the couch, I basically forgot it was anywhere in sight. Now it's doing a 1:10,000 R/S? As I can't watch stocks all day long, I'm going to put in the highest limit order to sell that the system will accept and hope for the best. I'd settle for half where it spikes and let MM's take the rest.
Posts: 669 | From: Gouldsboro, Pa. | Registered: May 2006
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quote:Originally posted by visiblecat: I like reverse splits , they are sometimes fun
I am down 1500.00 on one for a year now, now you giving that money back would be FUN !!
Posts: 395 | From: algonquin,il,usa | Registered: Sep 2004
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posted
Like every other sub penny out there it may run just because the sky is blueor some crazy reason like that. Most times there is no reason other than the MM's decide that today is the day. I will try to pick some up at .0001 and see what happens.
Posts: 339 | From: Canada | Registered: Dec 2005
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quote:Originally posted by DDA: I don't like this. How can you guys say an R/S is good ?
R/S is bad, run before R/S is good. CCGI is easy movable - look at previous runs. Have no idea how much CCGI is diluted since April (last run as I remember correctly) but that time it was up to .0004 on mid volume (around 150-200mil).
ask: 6 x 0.0001 4 x 0.0002 3 x .0003
20 days before R/S - will see...
Posts: 1580 | From: World | Registered: Jul 2006
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posted
I'm confused. If there is going to be a big sell off, why will the price go up? I'm thinking about buying this, it seems like every stock that does a reverse split or has some restricted shares, runs from a short squeeze from broker error. Other than that happening, I dont see why this should run from a r/s.
-------------------- I'd just like to retire at 26. Posts: 113 | From: cleveland, oh | Registered: May 2006
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posted
It's often a backwards world, like craps in Vegas, some play the come line, some play the pass line. Some PR's are desent but the PPS goes down and the R/S does the opposite. Interesting eh?
-------------------- Bill Gates, Donald Trump and James Dean, Willie Nelson, John Lennon and Neil McCoy Posts: 1102 | From: Sometimes Honolulu, Sometimes Laguna Beach, today in the Valley | Registered: Aug 2006
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quote:Originally posted by ed19363: Within a month it will be back down at .0001.
At least someone really understands that R/S is BAD NEWS!!! The last time I had a stock that did a R/S...the R/S was 25,000-1. I had 4,000,000 shares and was left with 160 shares. The value before the R/S was $400 and the value after was $250...now its worthless.....the price is $0.0001 again.
ed is somewhat right....I just think it will take a few extra months for it to hit current trading levels.
Here is another example....GTE. They did a 15-1 R/S I think and the stock price was $0.40 and ended up around $4.50 range if I remember right....now its worth $0.44. Also, it went from OTCBB to Nasdaq. If a R/S was such a good thing....then you know $0.40 x 15 = $6.00.....never made it there EVER!!
Posts: 2367 | From: Detroit | Registered: Mar 2005
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posted
RS's are just a way for a company to reduce the OS so they can dilute again which drives the price back down.....IMO. Happens virtually everytime.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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quote:Originally posted by BlindMellonChitlin: RS's are just a way for a company to reduce the OS so they can dilute again which drives the price back down.....IMO. Happens virtually everytime.
YEP!!!
And their whole objective that they stated was to make the stock more appealing to people and institutions.
Posts: 2367 | From: Detroit | Registered: Mar 2005
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posted
"And their whole objective that they stated was to make the stock more appealing to people and institutions."
That is the STANDARD BS they all post pre RS. They seem to think that their 'investors' are all clueless chumps.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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quote:Originally posted by ed19363: Within a month it will be back down at .0001.
At least someone really understands that R/S is BAD NEWS!!! The last time I had a stock that did a R/S...the R/S was 25,000-1. I had 4,000,000 shares and was left with 160 shares. The value before the R/S was $400 and the value after was $250...now its worthless.....the price is $0.0001 again.
ed is somewhat right....I just think it will take a few extra months for it to hit current trading levels.
Here is another example....GTE. They did a 15-1 R/S I think and the stock price was $0.40 and ended up around $4.50 range if I remember right....now its worth $0.44. Also, it went from OTCBB to Nasdaq. If a R/S was such a good thing....then you know $0.40 x 15 = $6.00.....never made it there EVER!!
nobody is arguing that R/S is bad. idea of pre-R/S play that MMs need to unload the inventory (if any) and will run this pos for few ticks. Read Tex comment above...
Posts: 1580 | From: World | Registered: Jul 2006
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posted
Is anybody able to buy this one today? Ask stayed at .0001 and nothing... Looks to me that stock is seriously shorted and count is still in progress. 19 days to R/S - MMs have plenty of time...
Posts: 1580 | From: World | Registered: Jul 2006
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