as a strange discovery in the capital markets this qualifies to be included in the files.

doing a 1 for 2000 reverse and forward split and cash out of sharehodlers at 15.24..

can do an arbitrage profit on a small position. nice return.. 1500 bucsk on a small investmetn, that counts.

furthermore.. shareholders get Claw-Back rights. so in case the company gets sold, folks get a certain extra value amount of any transaction..

I guess i would just own the paper to get the claw-back rights and see what happens in the future..

of course of the clawback rigths to have some value, the comany needs to be acquired or liquidated in part.. this may never happen.. so the optionality value of these clawback rights is diffuse. but if they were to trade publicly the value would not be ZERO..

purely hypothetical to figuer out what they will be worth one day.. but since it cost nothign and the trade is profitable for arbitrage. why not own this freebie, clawback right..

it must have been issued for a reason.. typically i guess it would denote that something of value is taken from shareholders and to appease them and make them happy they are given some token value of something to keep their foul mouths shut.

note that the deal was in august 2005 put out to be at 13,00 per share.. now in its final version shareholders get 15.24 plus teh clawback rights..

interesting... but irrelevant from an institutional perspective. this is why it is in the capital markets files.