What does a stab in the back feel like?It hurts. Yesterday I felt excited that after years? months? of waiting Mountain Lakes Pot deal showed signs of life. It began trading . Today I see that after trading today there will be a 1 - 10 stock split. So following a similar dilutiion when Mountain Lake made the deal with these new guys I am subjected to a 1 - 100 stock split. My .19 cent cost per share is now 19.00.
This is outright robbery even if the regulations allow it. It shows the appreciation this management of PACR have for their shareholders. We mean less than nothing.
Some 15 years ago I shared the following story printed in a newspaper during the last depression.
I believe I posted it on the Yahoo Mountain Lake buletin board so I have been around for awhile.
A Cow Deal
Ten men who were a little smarter than the rank and file chipped in ten dollars each. With this hundred they bought a very fine cow, a real cow that gave ten gallons of milk every day. This milk was divided at night and each man received one gallon as his share.
Soon the neighbors far and near heard about this wonderful cow, and said to one another. " Just think of getting a whole gallon of milk every day. What a wonderful return on a ten dollar investment. I wish I had a share in that cow. When this talk was repeated to the ten men they had a meeting and one of them said, " Let us give these people what they want. Our shares cost us ten dollars each and we shall sell other shares at the same price.
Then they went to a printer and obtained one thousand sheets of paper bearing the legend: "ONE SHARE IN THE COW" Then they sold 500 of these shares at $10.00 each which brought them $5000.00 and divided the other 500 shares amongst themselves as their reward for being smart. Each of the men now had 51 shares whereas in the beginning each had only one share, but one of the men began to worry. "Look here " he said, "Every fellow who bought a share in this cow will expect a gallon of milk to-night and the cow only gives ten gallons. When the milk is divided into one thousand and ten parts these new shareholders won't get a spoonful. Shares will drop to nothing. We had better unload while we can."
The ten men then went out in the streets to find investors and each one of them sold the fifty shares that had been awarded to him, and thus they obtained a second $5000.00 to divide amongst themselves, but now night was drawing near and again one of the men began to worry. "There will be a row at milking time," he said. "Hasten abroad and persuade each to sign a proxy, which of course is a joker authorizing you to cast as you think best the votes which his share entitles him, then return with the proxies and we shall do some voting."
At twilight the ten men met in the barn, and in their hands were 1000 signed proxies to represent the absent shareholders, and the ten were entitled to vote in their own right for each still held his original share.
"Now,' said the man who did the talking, " We must reorganize. This company needs a president , a treasurer and eight vice-presidents. That gives each of us a job, and since there are ten of us and the cow gives ten gallons of milk, it is moved and seconded that each of us receive a salary of one gallon of milk per day. All in favor say "Aye." The motion carried without a dissenting vote, and then they milked the cow.
So FLEMING,GEEN,MCGILL,ELLIOT, BROMLEY, STANN, I imagine you are feeling pretty good about yourselves foillowing this heist but I see you as simple milkmen.
I will be communicating my feelings to the BCSC and to potential shareholders.
will