Thanks, guys, and way to go, Allstocks. ____________ mailto:dateline@nbc.com Subject: Suggestion for an Investigation
Dear Dateline;
I have a suggestion for a possible investigation in regard to stock fraud. The abuse of Reverse Stock Splits among some OTC and Pink Sheets companies. Many hopeful investors are sitting helplessly by, as they watch their holdings in a small company dwindle down to zero shares. In one day, without warning, hundreds, up to thousands of shares (and as high as 25,000) can turn into just one share. And yet, the SEC does nothing about this.
An expose' on this would dovetail well with your upcoming (?) expose' on StockGate. By the way, can you confirm the air date for that?
Below are just a few stocks guilty of chronic reverse splits:
GBMS Global Materials & Services: Reverse Split History Symbol Split Ratio Date GMSV 1:1000 R/S 03/18/2005 AFRD 1:2000 R/S 01/06/2005 AFRN 1:2000 R/S 11/01/2004 AFRT 1:250 R/S 09/01/2004 AFRR 1:250 R/S 03/22/2004 AMFR 1:200 R/S 06/27/2003 AFRC 1:10 R/S 09/12/2002
GWDB - Gateway Distributors Reverse Split History Symbol Split Ratio Date GAWD 1:500 R/S 03/28/2005 GAWY 1:1000 R/S 12/20/2004 GWAD 1:1000 R/S 09/03/2004 GWDL 1:900 R/S 06/28/2004 GWYD 1:3000 R/S 04/16/2003 GTWY 1:25000 R/S 12/06/2002
DDYI - Dark Dynamite, Inc Reverse Split History Symbol Split Ratio Date DDYN 1:1000 R/S 03/28/2005 1:2000 R/S 11/17/2004 1:200 R/S 05/07/2003 1:25 R/S 01/18/2002 1:100 R/S 07/06/2000
Sincerely, ___________________ Dateline's immediate, automated reply. Looks like they prefer snail mail:
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