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.
Posted by quickpicker on :
Is it possible to buy this at .0001 right now.
Posted by isaertcat on :
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 !
Posted by atleast on :
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.
Posted by isaertcat on :
it'll run soon
Posted by stocktrader22 on :
Why would it run on a 1000:1 R/S? wouldnt current shareholders value be basically nothing, so everyone would be selling?
Posted by T e x on :
the idea is that MMs realize a dump is coming, so they may engender a small run to dump *their* shares...
who knows? I don't--chart it and see whether it looks like MMs may be holding a bundle
Posted by DDA on :
I don't like this. How can you guys say an R/S is good ?
Posted by isaertcat on :
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 .
Posted by beechwood on :
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.
Posted by visiblecat on :
I like reverse splits , they are sometimes fun
Posted by tyleemary on :
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 !!
Posted by quickpicker on :
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.
Posted by atleast on :
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...
Posted by isaertcat on :
i can't wait for this week !
Posted by chevon2020 on :
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.
Posted by dinner42 on :
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?
Posted by ed19363 on :
Within a month it will be back down at .0001.
Posted by USFBRIAN on :
when is the RS?
Posted by isaertcat on :
prepare for blastoff !!!
Posted by JimSC on :
quote:Originally posted by isaertcat: prepare for blastoff !!!
I will wait after R/S; I will gamble only if the pps drops like PAIV.
[ September 17, 2006, 22:27: Message edited by: JimSC ]
Posted by isaertcat on :
get ready!
Posted by atleast on :
no fill since opening...
Posted by quickpicker on :
still trying for .0001's
Posted by atleast on :
still no fill
Posted by isaertcat on :
you aint getting that filled
Posted by atleast on :
quote:Originally posted by isaertcat: you aint getting that filled
what do you mean?
Posted by R1 Man on :
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!!
Posted by BlindMellonChitlin on :
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.
Posted by R1 Man on :
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.
Posted by bksundar on :
Generally when a stock reaches 0.0001, it is a sure sign that things are hopeless...
And some of the future candidates are DDSI, SMMW, JMCP, CHNW, GWDB to name a few....
Posted by BlindMellonChitlin on :
"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.
Posted by bksundar on :
The biggest offender is Pacel Corporation . What a POS ??!!
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...
Posted by atleast on :
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...
Posted by quickpicker on :
I never got filled today either.
Posted by atleast on :
quote:Originally posted by quickpicker: I never got filled today either.
any ideas?
Posted by isaertcat on :
and you aint getting filled . not at that price . who ever sells at 0001 loses money or breaks even so it aint getting filled . wait for the run .
Posted by GlassCrasher on :
Did this stock just die?? I am showing the price to be .0000???
Posted by Shells on :
Scottrade is showing this stock ccgi does not exist