An amended filing hit Pink Sheets late tonight for Newron Sport. NSPT enacted an astronomical 75,000 for 1 reverse split on Oct 3, 2008. Any investor should tread carefully with this stock. It is one thing to ride momentum, it is another to be blindsided by a reverse split of such enormity.
History tends to repeat itself with Pink Sheet stocks. I have no doubt NSPT will reverse split again. It is only a matter of time.
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Could you elaborate as to why this would be a problem? We clearly saw that AIG's reverse split did not work well. However, a reverse split I would think is a good thing with NSPT snce they ahve over 2 billion shares out. So, please elaborate about what I am missing. Thanks.
By the way, the reverse split that you stated states that the reverse split is to take effect the 3rd of October, 2008. That is last year.
My point exactly. They have already effected a reverse split to raise the price of their shares. The shares have since lost almost all of their value and the share count has again reached obscene levels. Consequently the company will likely perform another reverse split to reduce the amount of shares and increase the price of the stock. After the split the price will decline back to $.0004, the outstanding shares will balloon to the billions and the company will do another reverse split so they can sell the stock back down to $.0001. It's a repeating cycle for many of these garbage stocks. It doesn't happen overnight for most of them so trade them but don't expect them to be worth anything if you hold them.
I'm not touching NSPT, I've been warned by tooooo may people.
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