looks like this is a hold stock for a while. I got in at .0007 thinking it was good but now .0002 is the bargain. Hoping I didn't throw my money out the window. I think potential is there but they have to get some action on marketing, not just putting more shares out and diluting the company to nothing
Posts: 57 | From: calgary.canada | Registered: Jun 2004
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At this price you caint sell only BUY We have to hold it and wait. Im gonna leave a sell order in and try try try to forget about it
Posts: 1068 | From: Utah and Put-In-Bay Ohio | Registered: Jan 2004
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In my scottrade account today I am seeing a listed high of .0018 !! Is anyone else seeing this or is my account just tripping out.
Posts: 132 | From: Cathedral City , CA | Registered: Aug 2004
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On August 5, 2004, the holder of approximately 75% of the voting power of the outstanding shares of the Company’s Common and Preferred Stock (par value $0.0001) voted to approve:
The reverse split of the Company’s Common and Preferred Stock (par value $0.0001) so that upon effectuation of the split, one (1) New Share of the Company’s Common and Preferred Stock will be issued for up to each thousand (1,000) shares of the Company’s Common and Preferred Stock currently issued and outstanding with each fractional share rounded up to the next whole share (the “Reverse Split”) except that the Reverse Split shall not affect the shareholdings of those shareholders holding one hundred (100) or fewer shares of record as of the Record Date.
Prior to the Reverse Split, the Company had 2,144,468,337 common shares, 875,000 Series A convertible preferred shares and 60,000,000 Series B convertible preferred shares of the Company’s Common and Preferred Stock outstanding. The Company has no intention of becoming a private company and there are no plans to “take the Company private”.
To more fully understand these matters affecting Livestar Entertainment Group, Inc., a Nevada corporation (the “Company”), you should carefully read the entire Information Statement, which is first being mailed to stockholders on or about August 16, 2004 and it is accompanied by a Form 10-KSB Annual Report for the fiscal year ended December 31, 2003 attached hereto and incorporated herein as Annex A.
THE COMPANY HAS NOT AUTHORIZED ANYONE TO GIVE ANY INFORMATION OR TO MAKE ANY REPRESENTATIONS OTHER THAN THOSE CONTAINED IN THIS INFORMATION STATEMENT AND, IF GIVEN OR MADE, YOU MUST NOT RELY UPON SUCH INFORMATION OR REPRESENTATION AS HAVING BEEN AUTHORIZED BY US OR BY ANY OTHER PERSON.
The Company is subject to the informational requirements of the Securities Exchange Act of 1934 (the “Exchange Act”) and in accordance with the Exchange Act, the Company files reports, proxy statements, and other information with the U.S. Securities and Exchange Commission (the “Commission”). You may inspect and copy of the reports, proxy statements, and other information filed by us with the Commission at the public reference facilities maintained by the Commission at Room 1024, 450 Fifth Street, N.W., Washington, D.C. 20549, and as well as the Commission’s Regional Offices. You may also call the Commission at 1-800-SEC-0330 for more information about the public reference room, how to obtain copies of documents by mail or how to access documents electronically on the Commission’s Web Site at (http://www.sec.gov).
quote:Originally posted by Jumper: can someone please tell me more about a reverse split? Is it always bad news when a company does one?
Usually after the R/S the pps drops back down so... 2.5M at 0.0001 before the split gets you $250 After the split 2500 shares at 0.1 still $250 If the pps drops back to the same level... lets say 0.001 now your 2500 shares are worth $2.50, alot of people lose money after the split.
They have to show that they can hold a pps of 0.1+ to get my attention again, but I think it will drop. I'd rather take a 66% loss then a 99.9% lose.
Are you addicted when Allstocks.com is your homepage?
quote:Originally posted by candylion: why is a forward split considered good to a stockholder? and why would a company want to do a forward split? what's in it for them?
Consider this. A company with a pps @ $100. How hard is it to the pps to $140? Depending on the o/s and the float, it might never reach. A company splits, and now double the o/s, float, and 1/2 the pps. So now it is more liquid, new investors can jump in, and what is the chance that the pps at $50 can make it to $70? It happened before, it should be able to happen again. Same thing with a penny stock.
But what do I know.... I've only been trading since June 04, and already had to jump ship on a couple of stocks.
Are you addicted when Allstocks.com is your homepage?
quote:why is a forward split considered good to a stockholder? and why would a company want to do a forward split? what's in it for them?
Candylion, A forward split is good for the shareholders because you are issued more shares, if it's a 2 for 1, your position doubles, 3 for 1 it triples, etc. The pps goes down by the same factor but typically, if it's a good stock, it will resume a slow steady climb. It's good for the company as the lower pps can attract more investors. What I dont understand is the reasoning for a forward split in penny land. It really makes no sense. In this part of the market a reverse split is a death blow and forward splits are usually viewed suspiciously.
Thanks Tanangel, I was waiting for somebody to respond.
I called Ameritrade and talked a rep. I told him how come scottrade filled orders that were submitted later. He said its otcbb, not electronic trading blah blah. I just told him that Scottrade is better in this particular case
Will see what happens. Good luck.
quote:Originally posted by Tanangel: I also had the order set for excecution at .0002 in two seperate accounts. Scottrade got excecuted but ameritrade never did.
The Company was notified that its common stock was trading on the Berlin Stock Exchange under the symbol LEP (www.berlinerboerse.de/index.html?LANG=en&debug=) without management's prior knowledge or authorization. A market maker in Germany is able to initiate a listing on the Berlin Stock Exchange without the Company's knowledge or authorization. The listing on the Berlin Stock Exchange may have had a negative impact on the price per share of LIVESTAR's common stock. LIVESTAR believes market makers in Germany may be trying to avoid U.S. regulations and engage in a practice called "naked short selling," that involves the selling of non-existent shares, which can drive down the price of an issuer's shares. LIVESTAR has since instructed the initial sponsoring market maker to cease and desist trading.
In closing, as stated previously, LIVESTAR'S commitment to a long term plan requires a long-term time horizon from its shareholders. The Company is committed to its strategy and will endeavor to successfully execute its business plans over time.
I have the following response from Mr. Romero and thought I would share it with you. Soooo, August 29th is the tentative date for the R/S because this is dated the 9th, and says in 20 days. Candydish ____________________________ XXXXXX X XXXXXX,
From my conversation with management, due to the currently depressed PPS, they felt it necessary to register 5b options and 1b common shares via an S-8. These shares are to be used over time to secure and attract experienced key additional employees and consultants to manage / work at current and future developments in Canada and the United States. These individuals are essential to business running efficiently. Management also pointed out that the S-8 shares are registered / (not yet) issued.
If you have yet to read the latest Pre 14C filed Friday, I would encourage following this link to the SEC filing: http://www.sec.gov/Archives/edgar/data/1088199/000110801704000435/livestarpre14c.htm . In essence it says that LiveStar is now formulating plans for a Reverse Split up to 1000 to 1. As I understand the management was endeavoring (view the May 11th PR) to avoid doing a Reverse, however do to the current market situation they had no alternative. The RS will take place in approximately 20 days, and does not require a proxy vote due to the fact that Ray Hawkins holds more than 51% of the vote.
If you have any additional question, please provide a number where you can be reached so that we may discuss the mater further.
Yes Messageguy I am going to sell everything I took a pretty severe hit I been buying it since it has goning down from .0010. What candydish mentioned earlier is the same story they have been mentioning to me since I started calling them. This company has a very big hole called Terrance Lall. The first acquition did not go through becuase he refused to give financial statements for the process and when the Acquition failed he did not give back the money nor 40 million shares. Now he is sitting on the board and getting paid for nothing. Also they did not even bother to inform the investors about 6 billion shares. If U call the investor communications and ask them about these questions and really grill them they will turn pretty hostile. Infact when I called them last time and they realized when I am raising the question of milking the investors and decepton about not flooding the market and then doing a reverse merger they basically hanged up on me. This is just guessing but I believe they are going to dump close to a billion shares as soon as R/S merger occurs. They also did not answer my questions regarding who is the consultant or employees. I did write to SEC for deception by the mgmt and lets see what happens.