Coverdell ESA Account – Bought 425 ASAA

On Friday, October 22 I purchased 425 shares of ASA International LTD. (ASAA) for $4.55 a share. I plan on receiving $5.00 a share by the end of the year, because ASAA announced that it plans on doing a 1-for-600 reverse stock split and it will pay holders of less than 600 shares $5.00 per share in cash. You can read about the details of this low risk short term investment on ASA International’s proxy notice.

I will be focusing on arbitrage and special situation opportunities in my son’s Coverdell ESA. I will be posting more about these opportunities in the near future.

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