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UCOI - Gold company with low float of 49.1 Mil. Just hit 52 Wk. low of .0075 and due for a correction, IMHO
Posts: 616 | From: Mid West | Registered: Mar 2006
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Effective August 11, 2006, the Company's common stock underwent a 1 for 100 reverse stock split. As a result, the number of outstanding shares of the Company's common stock as of August 11, 2006 decreased from approximately 4,954,096,450 pre-reverse split shares to 49,540,965 post-reverse split shares. Share figures appearing in this report are generally expressed in numbers of post-reverse split shares, unless otherwise noted.
Posts: 17 | From: Orange County, CA | Registered: Nov 2006
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Since the reverse split, the price has gone from .12 post split to .0075 post split. In other words, from a market cap of $6Mil down to $375K. This puppy is way oversold. IMHO
Posts: 616 | From: Mid West | Registered: Mar 2006
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and it dips lower... I am always weary buying a stock that just went through an R/S. From my experience the majority of these things never recover.
I am sure the first time I say I wont buy is the time it will return to Pre R/S levels
Posts: 17 | From: Orange County, CA | Registered: Nov 2006
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You would do yourself and everyone here a service if you learned to use the search feature for existing threads. Your claim of float being 49.1M is wrong also.
will Member posted October 28, 2006 14:40 -------------------------------------------------------------------------------- From the FORM 10-QSB/A, filed 10/24 For the quarterly period ended May 31, 2006 : As of July 17, 2006, the issuer had outstanding 49,340,965 post-reverse split shares of its common stock, $0.001 par value per share.
Fast foward to 10/24 again FORM 10-QSB, for the quarterly period ended August 31, 2006 : As of October 12, 2006, the issuer had outstanding 182,411,108 shares of its common stock, $0.001 par value per share.
So, in a 3 month peroid they diluted 133,070,143.
Shares decreased by 1 for 100 split 8/11/06.
Prior to the R/S there were : As of July 17, 2006, the issuer had outstanding 4,909,096,450 shares of its common stock, $0.001 par value per share.
From the Form 10-QSB/A peroid ending 5/31/06, to the Form 10-QSB, period ending 8/31/06, there were no filings that would indicate to an investor a dilution factor of 2.7 times. Pretty stealthly on the companies part. Not without expected results though, from the R/S high of .18 to the current price of .0104. Seemingly that much of a diference should be considered harsh and more than the stock deserves. A price of .18, diluted 2.7 times should yeild a diluted share price of .0666, unles of course, dilution has continued at that rate or greater, perhaps? It is a known diluter now, from almost 5 billion O/S, R/S to 49M, and diluting the 49M almost 3 times in 3 months, not a sterling history. Would be acceptable at 182M O/S, if they were forthright and forthcoming with the filings prior to the dilution, and not elect to wait for a fresh 10Q to publish there sins.
quote:Originally posted by Time2drum: UCOI - Gold company with low float of 49.1 Mil. Just hit 52 Wk. low of .0075 and due for a correction, IMHO
-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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If the float was only 49mil then it would mean that we have traded 1/2 the float so far today.
Posts: 17 | From: Orange County, CA | Registered: Nov 2006
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Obviously, the float isn't 49.1M, that was the new O/S after the R/S.
-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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will, I stand sadly corrected and poorer at that. Good find on your part. At this point, guess I'll hold out for a technical correction or bail if this goes down much more.
Posts: 616 | From: Mid West | Registered: Mar 2006
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I apologize, didn't mean to sound harsh, don't take it personal, I was correcting the facts not you. Sometime it pays to look for existing threads containing information and DD, it can help in making a decision to buy or not.
-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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will you´re one of the biggest assets to this board keep up the good work and peeps be careful with UCOI it bounces a little from time to time, but the general direction is down for now at least...
Posts: 2473 | Registered: May 2006
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this might be able to do something, if we all try and help it, it is showing a bit of life again.
Posts: 1220 | From: Denver, CO | Registered: Jun 2005
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this will run soon, take a look at the charts. yest. morning it ran up nicely, but they mm's dropped it right back down. dilution?
Posts: 4071 | Registered: Dec 2005
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