.....This appears to be a bonehead move as you say for the short term investor. If you are under water, as I suspect nearly everyone is, then it might be wise to take your lumps now and get on. If my calculations are correct then I should end up with an additional 4k shares. The only problem that I can forsee is that if JER cannot pull this company out after a couple of years then the stock give away is a tax. I'm so far under water that I will wait it out, or lose it all. Might get more shares and a few more nine centers along the way!