quote:Originally posted by TopRob: I wouldn't think it's shorts covering since they would make a killing after R/S when it drops to sub pennies again. Unless they are being forced to cover by their broker.
I don't know about it dropping to sub pennies as the new business is very lucrative and could turn into the next Paypal or something similar.
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posted
I hope it doesn't drop that low, but it will drop initially after the R/S. Just how low is anyone's guess. Now how long it stays low depends on their new direction. If they have a good business plan and keep shareholders informed on good progress, the pps will surely rise again.
I just don't trust companies that do R/S because they can always be avoided if they have a good product or a good reorganization plan. To do a R/S means they are just taking the easy way to make more money and to heck with the shareholders.
The R/S takes effect May 10 and so far they have not done anything to gain our confidence, so unless they have better plans in the works they will probably make the same mistakes as before and drop back to the sub-pennies.
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I'm holding on! I'm thinking more on a positve note.
Remember after the R/S (which will regain credibility)
they also plan to change the stock symbol and company name (which will then appear as a new company to those who don't dig and find out the stock was at .0001)
and they are planning on filing audited financials (which is always helpful) in an attempt to move from the Penny exchange to the OTCBB.
This all seems positive to me and we will find out next week.
I for one can't wait to see what direction this takes but it's not as negative as it appears.
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Before R/S=.0001, After 1:2000 R/S=.20 Anything above .10 is a plus for anyone that bought at .0001 and got the double.
No PR yet to build confidence, so I wonder just how serious are they about turning things around. I wouldn't be surprise if no one can sell on Monday except for them diluting first.
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No one will be able to sell on Monday because it takes a few days for shares to be exchanged with the TA, I think. I don't recall being through a split thta I could trade the first day or two, but I may be wrong.
quote:Originally posted by TopRob: Before R/S=.0001, After 1:2000 R/S=.20 Anything above .10 is a plus for anyone that bought at .0001 and got the double.
No PR yet to build confidence, so I wonder just how serious are they about turning things around. I wouldn't be surprise if no one can sell on Monday except for them diluting first.
posted
Usually taks a few days to dump any stock after a R/S. This one likely no different. Meanwhile it tanks and you lose money. Nothing glorious about a R/S. And this turkey is full of 'em. Stay away.
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PCola, I think it depends on the MM or Broker. After a R/S there have been times where I would see trades occurring a day or two before I can do a sell. It gets complicated when trades are done between the "record date" (May 10 here) and "pay date" (May 14 here), but to the shareholder it's all invisible and you don't have to worry about it. But for some brokers, this may be why trading is delayed as they have to do a lot of converting.
posted
Great West Gold, Inc. -- Symbol Change Friday May 11, 3:18 pm ET Company Trading Symbol to Change and Reverse Split to be Effected
NEW YORK, May 11, 2007 (PRIME NEWSWIRE) -- Great West Gold, Inc. (Other OTC:GWGO.PK - News) announced on May 2, 2007 that the Company had would be effecting a reverse split of its stock on the basis of 1 for 2,000. This split will be effective, prior to the market open on Monday, May 14, 2007. The trading symbol of the Company will change to that of ``GWGD'', prior to the market open on Monday May 14, 2007.
Great West Gold, Inc. is in the process of changing its name to that of Fortress Financial Group, Inc. and will be obtaining a new CUSIP Number and Trading Symbol. Stockholders will be advised accordingly.
About Great West Gold, Inc.
Great West Gold, Inc., http://www.greatwestgold.com, was a gold mining exploration stage company, engaged in the acquisition and exploration of mining properties in the United States. The Company now retains these Gold Mining Exploration interests as portfolio assets. In and during May of 2007, the Company will effect a name and Trading Symbol change to that of Fortress Financial Group, Inc. and will then, be solely engaged in the issuing and marketing of prepaid debit and credit cards, on a global basis; as well offering various other payment solutions.
This release contains ``forward-looking statements'' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. ``Forward-looking statements'' describe future expectations, plans, results, or strategies and are generally preceded by words such as ``may'', ``future'', ``plan'' or ``planned'', ``will'' or ``should'', ``expected,'' ``anticipates'', ``draft'', ``eventually'' or ``projected''. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.
Contact: Great West Gold, Inc. + 44 845 127 4051 investor*greatwestgold.com
-------------------------------------------------------------------------------- Source: Great West Gold, Inc.
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WOW.. it is hard to beleive that anyone here is happy to be holding any of this stock...... Do you realise that your present stock will be basicly worthless..... GWGO gave us a double which was gr8..... but after the split you will own a loss of 2000% so what good was the double..... If you owned 2000 shares at .0001 you now own. "1" share..... so the shares you owned are worthless unless the stock goes to $1000+- per share...... The only people who may make money now are the ones who buy after about wednesday after the ticker finally settles .... And then you will only make money if a miracle happens and mm's screwed up their shares and have to cover ..... So next week the new buyers have a 10% possibilty of making money if they buy...... I sent the company by e-mail.... My STUPID OF THE YEAR AWARD
So .... FACT If you owned b4 the split you will NEVER recover your money..... GONE FOREVER
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The web sight went down for repair b4 i could correct my statement.... If you owned 2000 shares b4 the split..... the share price would now have to be at.10 per share just to break even.... I think the share price will drop like a hot cake when the new ticker shows...... It will open at .10 but that will be the last .10 GWGO will see
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So after the split your 2000 shares are worth .20 you cant even recover your commission unless the stock goes up to $10 per share or more
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Let's be realistic Hitman, 2000 shares would only have cost 20 cents before split and would need to go up 500% to .005 to make just $10, so no one (in their right mind) would have only that small amount. A more realistic figure would be 1M shares at $100. Then after the R/S if it drops to .10 you would still get $50 for only a 50% loss. That's not too bad when you think about if they had taken no action and left shareholders forever holding a worthless bag with no buyers.
It may not be all bad, because after the R/S, it might immediately drop to .01 or lower, but there's also a good chance that it could settle at around .10 to .15 or higher a few days after the initial panic has dropped. But this will depend on the quality and confidence of their follow up PR's.
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Hate to say it but your 1million shares you owned before the spilt for $100 will be only forth $2 to $5.oo after the split not $50.... The point is your stock will be worth zip zero at .10 a 2000% loss not a 50% loss! 2000 to 1 reverse not a 2 for 1
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1000000 X .0001 = 100.00 initial investment 1000000 X 2 = 2000000 (forward split this year) 2000000 / 2000 = 1000 shares post split .0001 X 2000 = .20 share price post split 1000 X .20 = 200.00 There is the math... I have no doubt the price will drop, the question is will you be able to get out when the getting is good? TMAN...
-------------------- In the end, trust only yourself when trading stocks.
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Slow down Hitman and take a deep breath. You ready now. After a R/S you don't automatically loose anything. The only thing that happens is the share count and pps changes to give the same result. The conversion formula remain the same. After a 1:2000 split a .0001 pps goes to .20 and the shares are adjusted by the the same rate.
Before R/S: 1,000,000 shares at .0001 pps Conversion: 1,000,000 x .0001 = $100
After R/S: 1,000,000/2000=500 shares, .0001x2000=.20 pps Conversion: 500 x .20 = $100 No loss
If drop to .10: Conversion: 500 x .10 = $50 A loss of -50%
If drop to .01: Conversion: 500 x .01 = $5 A loss of -95%
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NEW YORK, May 11, 2007 (PRIME NEWSWIRE) -- Great West Gold, Inc. (Pink Sheets:GWGO) announced on May 2, 2007 that the Company had would be effecting a reverse split of its stock on the basis of 1 for 2,000. This split will be effective, prior to the market open on Monday, May 14, 2007.
The trading symbol of the Company will change to that of "GWGD", prior to the market open on Monday May 14, 2007.
Great West Gold, Inc. is in the process of changing its name to that of Fortress Financial Group, Inc. and will be obtaining a new CUSIP Number and Trading Symbol. Stockholders will be advised accordingly.
quote:Originally posted by Hitman: You will never even get your commission back!
You never get your commission back anyway no matter how much it goes up. You can only get back the the value of your commission if you can sell at a gain for more than your commission cost. How much you get when you sell depends on how much you paid to get it. If you bought 1M at .0001 for $100 and commission of $10. After R/S, you would need to sell your 500 shares for .22 to get $110. To get at least your $10 commission back, you would need to sell for a minimum of .02 for $10.
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Today is the day ooooh for the big R/S. It's gonna hurt, but it better than being a bag holder. The question is, "Do I sell as fast as I can like everyone else and settle for less than half, or do I wait it out with hopes that they will come back stronger"
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It is a bag holder.... By the time the ticker settles at the Brokers it will be too late to sell, the stock will fall like a rock..... It may be wednesday before the new ticker shows in your account. LOST CAUSE
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