NASD has set and announced December 11, 2007 as the effective date for the 500 for 1 Reverse Split of the common stock of Pearl Asian Mining Industries, Inc. and the 75 for 1 Reverse Split of the preferred stock of Pearl Asian Mining Industries, Inc.
All the previous R/S trickery caused some people to be short, based on leaving sell orders active through the "share recall" and whatnot... but this time brokers will behave more promptly with a more regular R/S. I'll be skeptical and say it shouldn't have as much mayhem as before - unless they throw in some new hype. I'll really pissed about the R/S of the preferred shares...
but is the previous preferred share reduction in effect? It was like a 100 million to one R/S of preferred. If that's gone, the R/S of preferred is 75 to one only, that ain't so bad. I didn't really need billions of anything anyway.
BTW - BKMP SUCKS for the same reason, taking back preferred shares after giving them.