posted
So if I currently own 100 million shares of PAIM right now, how many of the "preffered" shares will I receive? And why would most say it would be hard to sell?
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posted
If we have PAIM don't we already have the split shares? This is a forward split. This is how it was worded. So someone please explain. After all it says the old share were traded under a different symbol.
Anyone that bought or sold shares under the symbol PAIM has bought or sold forward split shares. It has come to the Company's attention that some brokerage firms sold and are continuing to sell the forward split common shares, but others have failed to credit PAIM shares to their clients accounts. The Company has no control over the speed at which the brokerage firms replace 1000 PAIM shares for the 1 share of PRLGF previously owned; as well as there was confusion, that the Company has become aware of due to the NASDAQ releasing the new forward split symbol on January 26, 2006, before the payment date set by the Company of February 14, 2006.
-------------------- corn oil comes from corn, olive oil from olives, where does baby oil come from?
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posted
Ok now I'm thouroughly confused! I only have 1 million shares, what does that mean on the 15th of march, do I lose my shares of PAIM and gain new shares under the new symbol if so what's that worth to me if no one buys them.
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posted
You have 1 million shares of PAIM today, on the 17 th they will issue you 1 billion share of ABCD valued at .0000001.
On the 13'th you will be holding 1 mil of Paim and the 1 bil of ABCD, at a later date they will buy back or r/s the ABCD shares at 1 for 3 you will now be holding 333 mil shares of ABCD valued at .0001 (they way I see it anyway).
-------------------- "Man who excels at putting worm on hook is Master Baiter"
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posted
If you have PAIM shares you already have forward split shares. The 1000 for one was under the old symbol of PRLGF. 1 share of PRLGF became 1000 PAIM.
-------------------- corn oil comes from corn, olive oil from olives, where does baby oil come from?
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posted
"If you have PAIM shares you already have forward split shares. The 1000 for one was under the old symbol of PRLGF. 1 share of PRLGF became 1000 PAIM"
So only the shareholders of PRLGF will get this dividend on the 15th?
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posted
Correct they will most likely be worthless, it is just a loophole PAIM is using to get the shorts to stop playing this. But they will most likely do a buyback and elimiate ABCD.
-------------------- "Man who excels at putting worm on hook is Master Baiter"
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posted
I'm so frickin' confused. I had to read back 4 pages to try to get caught up and it did no good. As far as I can tell I'm going to own 1mil. shares of the stock that I currently own, which I wont be able to trade. On top of that I will own 3 bazillion shares of a stock that's fairly worthless. I don't see when the good thing starts happening.
-------------------- If ignorance is bliss, why aren't more people happy?
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posted
Press Release Source: Pearl Asian Mining Industries Inc.
Pearl Asian Mining Industries, Inc. Announced Today That for Every Common Share of Pearl Asian Owned by Its Shareholders on the Record Date of March 17, 2006, One Thousand (1,000) Preferred Shares Will Be Paid on March 31, 2006 Monday February 13, 4:00 am ET
PASIG CITY, METRO MANILA, Philippines--(BUSINESS WIRE)--Feb. 13, 2006--Pearl Asian Mining Industries, Inc. (OTC:PAIM - News), commonly known as "PEARL ASIAN" announced today that for every Common Share owned by its Shareholders on the Record Date of March 17, 2006, One Thousand (1,000) Preferred Shares of Pearl Asian Mining Industries, Inc., will be paid on March 31, 2006. ADVERTISEMENT
Anyone that bought or sold shares under the symbol PAIM has bought or sold forward split shares. It has come to the Company's attention that some brokerage firms sold and are continuing to sell the forward split common shares, but others have failed to credit PAIM shares to their clients accounts. The Company has no control over the speed at which the brokerage firms replace 1000 PAIM shares for the 1 share of PRLGF previously owned; as well as there was confusion, that the Company has become aware of due to the NASDAQ releasing the new forward split symbol on January 26, 2006, before the payment date set by the Company of February 14, 2006.
The Company cannot do another Forward Split on February 14, 2006 as NASDAQ had made this already effective on January 26, 2006. As a result, the Company called for a Special Board of the Directors Meeting held on Feb. 11, 2006 which unanimously passed a resolution authorizing a 1,000 preferred shares for 1 common share dividend.
The PRLGF Common Shares are still convertible to PAIM Common Shares 1=1000 upon surrender to the Company's transfer agent, American Heritage Stock Transfer, in Markham, Ontario, Canada. If you own your shares through a securities firm, there should be no action necessary on your part, as this is processed between the DTC, your brokerage firm's clearing house, and the transfer agent.
Forward-Looking Statements:
This news release may contain forward-looking statements concerning the Company's business and future prospects and other similar statements that do not concern matters of historical fact. This Forward-Looking Statement is based on the Company's current expectations. There are numerous factors that could cause results to differ and the Company's current expectations are subject to all of the uncertainties and risks customarily associated with developing business ventures. The Company's actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements contained in this release. The Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information.
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posted
So this 1000 for 1 fwd split is for folks who were sole shares under the old (plrgf)ticker when they should have been sold shares under the new ticker(paim)by their brokerage houses. So now the Brolerages houses have to replace the old shares with 1000 for 1 of the new shares?
-------------------- Why not make some money, Everyone else is!!!
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