HVLN announces A large Reduction of their authorized shares after the bell. Chart is looking good also.
Harvard Learning Centers Announces Board of Directors Approval in Reduction of Number of Authorized Shares
BOCA RATON, FL, Sep 10, 2007 (MARKET WIRE via COMTEX) -- The Board of Directors of Harvard Learning Centers, Inc. (PINKSHEETS: HVLN) (the "Company") announced today that it had voted to reduce the number of authorized shares of common stock in the Company to 750,000,000. Consequently, the Company will immediately file an amendment to its Articles of Incorporation making this change. About The Harvard Learning Centers, Inc. The Harvard Learning Centers, Inc. offers training programs for both the mind and body of teenagers and young adults. Its core business has been to offer SAT-ACT test preparation for high school students ( www.sat-act-prep.com). It recently added test preparation materials published by the Nova Press, including books, software and online courses for the SAT, LSAT, GMAT, GRE and MCAT graduate level tests, all of which are co-branded. Earlier this year, the Company expanded into the Youth Sports Training Market with the acquisition of BSA Athletics, Inc., and ASAP Athletics, Inc., both of Boca Raton, Florida. In conjunction with these acquisitions, it announced that it had opened a private men's fitness and wellness center, "The Men's Room," offering nutritional guidance, weight control management, a massage room, a hair salon, and a work out facility.
Posted by a surfer on :
Read through the thread on the under .10 board for the background if you so desire.
Short version:
Last Sept/Oct they did a 1:5000 R/S some brokers did not effect the reverse split and millions of shares were inadvertently sold into the market. Split adjuste price should have been .50, but it went down to .0014 the first day. I made a pretty good amount, but left a TON on the table. The CEO said he was out to get the shorts, blah blah blah, it got up to .66 and then got halted. Went to greys for a while, and then miraculously had the form filed (15-c211 or whatever the F it is) and proceeded to have a few massive volume days, and yet the price kept going down. My assumption was always that he cut a deal with the shorts and just released shares onto the market and walked away with a mint. Price went down from .40 to sub-penny.
Have no idea why this is up like 400% since then, seems like there shouldn't be any buy pressure based on its history, but there is. Just be careful if you get in it, as something stinks here to me.