SKBO recently announced a 10-for-1 reverse split of its issued and outstanding common shares, effective for shareholders of record on May 12, 2009, and a proportional reduction of its authorized common shares. Immediately after the stock split, Skystar has 1,869,297 common shares issued and outstanding and 20,000,000 common shares authorized.
According to its CEO - "We undertook the reverse stock split as part of our plan to list our common stock for trading with a senior exchange," commented CEO, Mr. Weibing Lu. "We are hopeful that this will bring us one step closer to that goal."
SKBO closed at $14. I would take a small position if the stock pulls back to $12 and I see a huge upside to SKBO once it gets listed on NASDAQ and when their new manufacturing facility completes by 4th Q of 2009. For more information on their revenues and growth story, take a look at their filing here..Take a look at their growth Story -
Caution - Please start with a small position and always keep your stop losses in place just in case....As usual Do your DD before investing. Thank me for your profits and don't blame me for your losses because you are the one who pulled the trigger!!!