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Originally posted by newbie do:
Anyone know about a AFRT reverse split. I show it on my account information but, I can't find any info about the split. I know that AFRT is notorious for reverse splits.

Thanks

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Originally posted by stockguy123:

It was mentioned in 1 of their filings about 6 weeks ago. I believe they said it would be 250 to 1 but they didn't give a date

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Thanks stockguy

DiQuiRiesco - I hope you didn't wet yourself when you read my shocking e-mail. hehehe

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Originally posted by Dakota:
I saw something about it a few weeks ago too. It is not surprising though. They are famous for doing the R/S. I lost 87% of my investment in their last 250:1 R/S.
It looks like they are digging their own graves by doing this. I see they were at .0002 for a while today and closed at .0003. Serves them right for taking our money like they do. It is a shame the SEC don't look into the way they do business. Might be ok to swing trade this one but never, never go to bed owning it.
Dakota told you that......

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From P/R, July 08: "We belive that our shareholders will soon see first hand what AFRC has worked so hard to build"

Ric

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Originally posted by newbie do:
How did you lose 87%? I know the number of shares decrease but the share value stays the same at the time of the split. I'm sure the share price drops after the split. Let me know. Thanks

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Originally posted by newbie do:
I just called the Scottrade local office and they said that the split is suppose to happen at the end of this month. He said the split is 250:1 but also said that it is not in guaranteed. I was told that the brokers have information regarding the reverse split that is not/might not be available to the pubic. Time will tell.

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Pursuant to Exchange Act Rule 10b-17, issuers must send notification of stock splits, reverse splits, dividends, and rights or other subscription offerings at least ten [calendar] days prior to the record date to the OTCBB Coordinator at the address below. Symbols may not be reserved for OTCBB issues.

OTC Bulletin Board Coordinator
Nasdaq Market Operations
80 Merritt Boulevard
Trumbull, CT 06611

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Originally posted by stockguy123:
I'm not so sure about that 10 day notice rule. Look what recently happen with TSBB, now TSBI, the notice was filed on a Friday and the reverse split happened on the following Monday.

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The case of stock or reverse split in addition to the aforementioned information;
The name and address of the transfer or exchange agent; or
The Commission, upon written request or upon its own motion, exempts the issuer from compliance with paragraph (b)(1) of this section either unconditionally or on specified terms or conditions, as not constituting a manipulative or deceptive device or contrivance comprehended within the purpose of this section; or

Given in accordance with procedures of the national securities exchange or exchanges upon which a security of such issuer is registered pursuant to Section 12 of the Act which contain requirements substantially comparable to those set forth in paragraph (b)(1) of this section.

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Originally posted by stockguy123:
Below is part of the information from AFRT included in there 7/2 SEC 14C schedule. Maybe this meets the 10 day notice requirement, note they say anytime within the next 12 months from the 7/2 SEC filing date

Grant discretionary authority to our board of directors to amend our articles of incorporation to effect a reverse stock split of our common stock on the basis of one post-consolidation share for up to each 250 pre-consolidation shares to occur at some time within 12 months of the date of this information statement, with the exact time of the reverse split to be determined by the board of directors

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Stockguy - Thanks for the information. I've learned alot about R/S. Just wish I would have done this prior to purchasing AFRT.

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Originally posted by stockguy123:
Below is part of the information from AFRT included in there 7/2 SEC 14C schedule. Maybe this meets the 10 day notice requirement, note they say anytime within the next 12 months from the 7/2 SEC filing date

Grant discretionary authority to our board of directors to amend our articles of incorporation to effect a reverse stock split of our common stock on the basis of one post-consolidation share for up to each 250 pre-consolidation shares to occur at some time within 12 months of the date of this information statement, with the exact time of the reverse split to be determined by the board of directors

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This information was posted three months after the last R/S.

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Originally posted by electrospiro:
This information was posted three months after the last R/S.

From my point of view we have a month or two before R/S will happen. They just registered(two days ago) 2.5 billion shares. So they whant to sell them first. This will take three to four weeks. And they authirized 9.8 billion shares(5.5 billion shares registered in the last couple months), so there is still some left for them to play around. In the meantime a surprise technical rally may happen. After all OTC and pink sheets stocks are only speculation.

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Originally posted by newbie do:
How did you lose 87%? I know the number of shares decrease but the share value stays the same at the time of the split. I'm sure the share price drops after the split. Let me know. Thanks

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40000 shares bought X .0051 (bad move) = $204
R/S 250:1 brings shares owned down to 160
Ratio at split was .004 (now down to .0003)
That's how you loose 87% not counting the drop since the last split from .004 down to .0003 and dropping like a rock. They will do it again soon as they have announced earlier.
It's a scam which goes unchecked by the SEC and I think it should be illegal. Some R/S are good for some companies but when they do it semi annually it sure looks like they've found a loop hole to take our money. I've gotten smarter and this one is in my "Lessons Learned" memory bank. I just re-figured the math and I think I lost more than 87%. LOL