Color Imaging Approves Reverse Stock Split

On September 19, 2005, () announced that shareholders had approved the proposed reverse stock split. After the annual meeting, the Board of Directors met and selected the one-for 2500 reverse stock split option. The effective day for the reverse stock split was set for September 22, 2005.

This is good news for my son’s Coverdell ESA. I had purchased 900 shares of Color Imaging on September 7, 2005 for $0.90 a share. Since my 900 shares will be cashed out for $1.10 each, I expect to make $173.05 in profit, which is a 21 percent gain on my investment. I should receive the cash in a couple of weeks.

5 thoughts on “Color Imaging Approves Reverse Stock Split

  • October 3, 2005 at 10:06 pm
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    How long does it usually take for your broker to post the proceeds?

  • October 4, 2005 at 6:30 am
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    It can take up to two months for the broker to post the proceeds according to my past experience.

  • October 8, 2005 at 3:27 am
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    Great News! CIMG cashout is complete. Purchased on 9/19, credit to account 10/7…..19% in 3 weeks….nice…

    Thanks,

    Andrew

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