{"id":1268,"date":"2009-11-06T09:51:00","date_gmt":"2009-11-06T13:51:00","guid":{"rendered":"http:\/\/blogs.northcountrypublicradio.org\/inbox\/2009\/11\/06\/more-stock-splits-at-seaway-valley-encore-version\/"},"modified":"2009-11-06T09:51:00","modified_gmt":"2009-11-06T13:51:00","slug":"more-stock-splits-at-seaway-valley-encore-version","status":"publish","type":"post","link":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/2009\/11\/06\/more-stock-splits-at-seaway-valley-encore-version\/","title":{"rendered":"More stock splits at Seaway Valley (encore version)"},"content":{"rendered":"<p>Yesterday, Tom Scozzafava &#8211; CEO of Seaway Valley Capital Corporation, and owner of North Country firms Hacketts, Alteri&#8217;s bakery, and Sackets Harbor Brewery &#8211; <a href=\"http:\/\/www.otcbb.com\/asp\/dividend.asp?sym_id=SWVL&amp;dDate=11\/5\/2009&amp;sDateType=ex_date\">executed yet another reverse split<\/a> of his Seaway Valley stock.  This time, it was 1:1000, meaning if you owned 1,000 shares in Seaway Valley (SWVL on the pink sheets), now you own one share.<\/p>\n<p><a href=\"http:\/\/northcountrypublicradio.org\/blogs\/ballotbox\/2009\/10\/more-stock-splits-at-hacketts.html\">Last week, Scozzafava did a 1:50 reverse split on his spun-off Hacketts stock (HCKE, now HCKI).<\/a><\/p>\n<p>Companies do reverse splits to boost the value of their stocks and attract new investors.  In some cases, it&#8217;s a normal way of doing business and building capital.  But reverse splits are most often seen as warning signs.  <a href=\"http:\/\/www.northcountrypublicradio.org\/news\/story\/14357\/seaway-valley-amp-hacketts-a-special-report\">Given Seaway&#8217;s massive debt load and recent history<\/a>, this has to be seen as the latter.  Scozzafava executed two reverse splits (1:5 and 1:1000) in 2008; the stock nevertheless still sunk to hundredths of a penny in value.<\/p>\n<p>One former Seaway Valley investor e-mailed me to say he calculated the current value of a one original share of Seaway Valley stock (which would have been purchased in July 2007)&#8230;.<\/p>\n<p>Try to wrap your head around this number: .00000000002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yesterday, Tom Scozzafava &#8211; CEO of Seaway Valley Capital Corporation, and owner of North Country [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/posts\/1268"}],"collection":[{"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/comments?post=1268"}],"version-history":[{"count":0,"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/posts\/1268\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/media?parent=1268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/categories?post=1268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.northcountrypublicradio.org\/inbox\/wp-json\/wp\/v2\/tags?post=1268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}