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Flint Telecom Group, Inc. Message Board

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  • eyeche eyeche Nov 2, 2010 11:53 AM Flag

    When is the reverse split?!

    Reverse split 1 for 1000 = 1 new share for 1000 old shares. In theory, the new stock price will be 1000 x old price for that one new share, but I guarantee the share price will drop 50-90% on the first day of trading as people dump.

    Several months ago Flint held a special shareholders meeting to approve first, an increase in authorized shares from something like 100 million to 900 million. These additional shares were the shares to be used to buy the latest (worthless) acquisition that is continually trumpeted in the news (and literally turn over ownership of Flint to the acquired company shareholders).

    Second, a REVERSE split was authorized to REDUCE the number of outstanding shares, so your million "old shares" will be a thousand "new shares."

    ============

    Do ANY of the commenters on this stock pay any attention to what the company is actually doing?!

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