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interWAVE Communications (IWAV) Message Board

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  • badboy91998 badboy91998 Jan 6, 2003 12:32 PM Flag

    Just got reverse split letter

    Still no letter for me in the mail yet either. Why would anyone vote for a reverse split? It is only going to dilute your investment big time. If you had 60K invested in IWAV, after a 10-1 reverse you would have an investment worth 6K. And that is taking into account that you are break even. Most here are way under water on this investment. So if your 60K original investment is now only worth 15K, then your after reverse investment would be worth $1500! The stock would have to skyrocket for you to friggin break even.

    NOBODY wins in a reverse split, except management of course. They will just cancel out their options, and give themselves new ones. And remember this, the above example is based on a 10-1 reverse split. What if they decide to go 15-1?? Who would vote for a reverse split that is not definite? In other words, they are saying "it could be anywhere between 5-1 up to a 15-1 reverse split". So you don't know what it could end up being. That's like giving them a blank check to fuck you on. All these months of planning, figuring and applying for a reverse split, and they still don't know what it will be? Doesn't that sound typical of IWAV management??