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Should hit .01 or .015 before the split. My opinion is that after the split the company will start to repurchase shares. This will again drive up price before it gets removed from OTC...
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no, no, wasn't a rumor or anything. outrigger just mentioned that if the stock increased dramatically to the penny land, it could come off the OTC. Exactly what are the requirements for that? Anybody know?
-------------------- wide open until you see god, then brake!
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That is Bogus info if you want to get out of the otc and into Nasdaq you would need to maintain a price of one dollar or above for one year straight
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News for 'UNQT' - (Union Equity Addresses Issue of Short Selling; Asks Shareholders to Request Stock Certificates; Record Date Today for 600% Dividend)
PALM BEACH, Fla., Apr 27, 2005 (BUSINESS WIRE) -- Union Equity Inc. (Pink Sheets:UNQT) encourages shareholders to request as much of their stock as possible be delivered to them in certificate form. This is being done to make it more difficult for market players to short the company's stock.
"I don't believe in the concept of shorting, I never have," said Union Equity CEO Michael Anthony. "If you are going to speculate in the market you should do so based on the belief that smaller business entities are going to become larger, more financially successful companies. The concepts of economic growth and entrepreneurial innovation are the backbone of the American way of life. Personally, I would never bet on the demise of any company."
According to a recent article by journalist Joel S. Hirschhorn, "Company stocks can be sold short. Shares are borrowed from brokers who actually have them (or can get them), transferred to the purchaser, and then returned to the lender by the short seller. The short seller sees a relatively high price in the stock market and bets that the price will decline significantly. Then the stock can be bought and returned to the original lender within three days. But `naked shorting' is different. No actual stock is borrowed and delivered to the purchaser, even though the purchaser pays the short seller. The investor believes that real stock has been delivered to their account. Naked short selling has been illegal since 1933, but it has still flourished."
Union Equity requests that shareholders contact their broker/dealers and request that their shares of company stock be delivered to them in certificate form in order to make it more difficult for short-sellers to borrow stock. Theoretically, if there are fewer shares out there for short-sellers to borrow, it makes it harder for them to achieve their objective.
In 2004 Regulation SHO (for "short") was promulgated in an attempt to curtail naked shorting.
In addition, Union Equity has recently approved a 600% dividend in the form of a six-for-one forward split of its common stock issued and outstanding as of 4/27/05 (the record date). Odd lots shall be rounded up. Shareholders of record on 4/27/05 will receive six additional shares for every one share of common stock owned on that date.
About Union Equity
Union Equity is a national real estate development and holding company, specializing in the fields of Residential Property Development, Mortgage Finance and Construction of New Residential Properties. The company operates independently and through its wholly-owned subsidiary Eden Development Group and plans to grow aggressively over the next two to three years through acquisitions, mergers and internal growth.
About the Industry
Florida ranked fifth nationally in housing appreciation in 2004.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, which represents the Company's expectations or beliefs concerning, among other things, future operating results and various components thereof and the adequacy of future operations to provide sufficient liquidity. The Company cautions that such matters necessarily involve significant risks and uncertainties that could cause actual operating results and liquidity needs to differ materially from such statements, including, without limitation: (i) increased competition, (ii) fluctuations in price, demand and supply of real estate markets and (iii) risks associated with high capital long term investments.
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i dont know how it usually happens but a few years ago when walmart last did a split right after they got put on the dow jones the stock price went from $57 to a split price of 23.00 back up to 57.00 in less than a month
-------------------- "The Americans will always do the right thing... After they've exhausted all the alternatives." - Winston Churchill
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April 26, 2005 South Florida Home Prices Take Another Leap By Alexandra Navarro Clifton Sun-Sentinel Buying a home in South Florida got even more expensive last month.
Taking advantage of low mortgage rates, buyers continued to flood the market, but they had to scramble to find homes in a shrinking inventory. Palm Beach County was the second-priciest place in the state -- behind Naples -- to buy a home, as the median price hit $371,500, a 37 percent jump over last year. In Broward, prices were up 31 percent, to $332,400. In Miami-Dade County, the median price -- the level at which half the homes are more expensive and half are less expensive -- was $322,300, a 40 percent increase over last year. The numbers do not include condominiums, townhouses or new construction. But even as prices continue rising, sales fell in all three counties in March. Miami-Dade County had the highest drop in sales, at 28 percent, from last year. Broward saw a 10 percent decrease, and Palm Beach County had a 7 percent decrease, according to the Florida Association of Realtors. "We just don't have enough inventory," said Ron Shuffield, president of Esslinger-Wooten-Maxwell Realtors, which has 13 offices in Miami-Dade and Broward counties. "It's the lowest inventory I've seen in my 30 years here."
Sellers are increasingly reluctant to put their homes on the market when they consider how much more they'll pay in taxes on a new home, said Richard Teboul, a Realtor with the Keyes Co. in Fort Lauderdale. "They know they'll have no problem selling it and they'll get full price or more," Teboul said. "But then where do they go when the taxes make it very expensive to move?" In Florida, property taxes can rise only 3 percent a year on homesteaded property. But once you move, your taxes will be based on the market price of the new home. That could double or triple a tax bill. While sellers may be wary of listing their homes, buyers are making multiple offers and often end up losing a string of properties. Buyers are resorting to making offers at or above an owner's list price. And they begin to get desperate because they know a similar property will only cost more next month, said Ann DeFries, president of the Realtor Association of Greater Fort Lauderdale. DeFries has even written letters of recommendation for some buyers who want to make a good impression on the seller, something she never did a year ago, she said. "Selling your house is a very emotional process," DeFries said. "They want to know who's purchasing the home, so I tell them where the buyer is moving from, where they're employed, how many children they have." Statewide, median home prices were up 28 percent, to $212,700, and sales were up 6 percent. Florida's median price tops the national price of $188,200 in February, a 9.4 percent increase from last year.
A year ago, the statewide median price was $165,700. Florida's prices rank toward the top nationwide. By comparison, California's median price was $471,620; in Massachusetts it was $340,000; in Maryland, $254,690; in New York, $290,000; and in North Carolina, $193,772. Low mortgage rates and high demand also helped increase prices and sales of existing homes nationwide. According to Freddie Mac, the national average rate for a 30-year fixed-rate mortgage was 5.93 percent in March, up from 5.63 percent in February, and up from 5.45 percent in March 2004. Nationally, sales rose 1 percent last month, according to the National Association of Realtors, which also tracks sales of single-family homes, townhouses, condominiums and co-ops. March sales were the third highest on record and were 4.9 percent higher than last year. National median home prices were up 11.4 percent over last year. The national median price was $195,000, compared with $175,000 last year.
posted
Damn... Glad I bought my house in Florida last week... as it was it appraised for $26K more than we paid.... It was just 45 days from contract to appraisal...
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no clue, Today was a weird day. If you look at the last time UNQT did a split in 2002, the stock dropped somewhat and then leveled off after two days so tomorrow will be a deciding day. There was no bad news to make this stock turnaround like it did, but a split usually has a negative effect for sometime. Be patient, this stock will comeback soon.
-------------------- wide open until you see god, then brake!
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quote:Originally posted by <unregistered user>: Well. Doesn't anybody have any comments or thoughts about what happened today?
What are you looking for?
-------------------- May your trading build your character as well as your portfolio.
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<unregistered user>
unregistered
posted
There has been so much discussion on Allstocks board about this stock and what everybody thought it was going to do. As you know it has gone down since Monday afternoon. I just wondered what people were thinking it might do in the future. (turnaround,drop further, go back up). I just wanted some peoples opinions of the situation. Thats all.
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I'm waiting til May 16/17 to see the final verdict. First time for me to play through a split, so I figure I owe it to myself to learn first-hand how it runs. People say that forward splits are good...this one isn't typical and has potential for being better than good.
Only time will tell. I bought early so I'm still in the green.
It's back to the support level it had pre-split-run; if the company starts showing the successes they are targeting, this one could be a real winner. Combining real estate and stocks seems like an excellent investment. I'm often hearing someone tell me to get into real estate.
(I'd like to catch a stock like this on it's way up; it started at around .0011 ).
-------------------- May your trading build your character as well as your portfolio.
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