posted
I dumped all the way down....I'm totally out, but I should have been celebrating today, and instead, I am praying to the god of porcelain. I think without the R/S we would have been fine, but I didn't see it in time....
-------------------- Study before you buy, Sell before you think about it....
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posted
SPNI's Board has agreed to complete a reorganization of its capital structure in the form of a split that will have one new share exchanged for each 432.3 shares of SPNI now outstanding. The resulting company will have 20,936,193 shares outstanding at the time the merger is complete after giving effect to the reverse split. DEP shareholders will hold newly issued restricted shares representing 94 percent of the outstanding shares of the combined companies.
If 94% of the outstanding is going to be restricted....Does that mean the float will only be around 1,250,000???? Am I reading this correctly????
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quote:Originally posted by SherriT: I'm so ill I don't know what to do....
I have been in the same situation sherri...prob worse...all you can do is learn from your mistakes and keep working..i am still making a comeback from a huge lose...practice makes perfect and from what i can see you are getting better and better..
-------------------- If your not on the edge of ur seat, sell it! Everything posted is my opinion!
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Posted by: jelly In reply to: None Date:4/10/2007 11:41:08 AM Post #of 1138
well everyone, i spent the first 5 minutes after reading that pr panic selling 3 million shares (which i highly regret) with everyone else. still holding 7 million. r/s doesn't scare me, but restricted stock does. i spent the next 30 minutes trying to contact the company and have just spoken with the same source i have received all of my other information. he did clarify that ONLY the NEW stock issued to the company will be restricted for one year. OUR stock will continue to be free trading. he did tell me in the past that they planned on moving to a higher exchange, and it should have been apparent that they would not get there with such a large share structure. he said the new share structure will have 1.2 million o/s, which insiders own about half. that leaves a float of approx. 600k shares!!!! he said it would be difficult, if not impossible, for them to get institutional investors as things currently are. with the new share structure, and the move to higher exchange, they already have some institutions that are interested in buying once this all is complete. he said they have already applied to nasd and are just waiting on the new symbol to complete the transaction. i plan on adding to my current position and holding through the r/s. when this opens with 600k float, and all the attention it has already received, we should fly from here imo.
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posted
Thanks for the post....well, I dumped very low, and just bought back a few...basically what I dumped for, and got some BHUB, so hopefully between the two, I can get back where I was yesterday, SELL, that is, SELL, and be happy.
I appreciate all of the encouragement from everyone here! (If I hadn't wasted a day's vacation yesterday watching and trying to prevent just this kind of thing from happening, I probably wouldn't be quite so worked up)
-------------------- Study before you buy, Sell before you think about it....
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