TSXV:CLAS.H - Post by User
Post by
2skytracker2on May 07, 2012 4:28pm
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Post# 19881551
Reply from MacMicken !
Reply from MacMicken ! Mr. MacMicken replied to my email on May 3rd. in which I questioned the practicallity of a reverse split of 1 for 10 shares and why the name change?.............Explaination for the name change makes perfect sense to me as the new name is reflective of the Company being based in Columbia "(Santa Maria is the ship Columbus was on when he discovered America)" and the old name is representative of Guatamala...Quetzal is the name of thier national bird...the company no longer holds assets in Guatamala.
To the second ? I asked about the stock split. I was informed that many institutional investors have a mandate in thier charter that will not allow them to purchase shares under
.10,
.50 etc. and that when these investors make a purchase they buy anywhere from $500,000 to $2,000,000 at a time and they dont want to be buying 50,000,000 shares at a time............to make a long story short the board believes that having over 600 million shares outstanding is keeping a lot potential investors away.To this I replied, that I believed 10 for 1 is extreme and gets a NO! vote from me and reminded Mr. MacMicken that only 1 year ago that an analyst had a
.25 one year target on this stock! with 600 million shares OS and said the stock price will rise when results are produced and it really dosn't matter how many shares are outstanding. I dont know if this will do any good but I hope its a resonable representation of the small investor!!