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--At its Annual Meeting of Stockholders, held in South San Francisco on Friday, January 28, 2000, TotalAxcess.com, Inc. (OTCBB: TXCI - news) announced that more than 90% of the shareholder votes cast approved a one-for-fifteen consolidation of the Company's common shares currently issued and outstanding.

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Mrdrae,

Wow, I've never seen such a thing on this scale before, but it's a stock split in reverse. Instead of voting to split shares two-for-one, the shareholders just voted to trade in fifteen shares for one. The price per share will become 15x higher.

So if I own 60 shares of TXCI that are worth $0.50 per share, I will soon have 4 shares worth $7.50 each. I suppose the point is to take their shares out of 'penny stock' status.

I see the stock is up 25% today, going from 3/8 to 15/32 as of now-ish. Congrats!

Fool on!
BrianZ
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<<So if I own 60 shares of TXCI that are worth $0.50 per share, I will soon have 4 shares worth $7.50 each. I suppose the point is to take their shares out of 'penny stock' status.>>

If I may add a few more words, I'll note that penny stocks are usually inexpensively priced for a reason. They tend to be extremely volatile and dangerous. The companies tend to have little in the way of any solid operating history. They tend to be hyped up on the basis of some exciting story, and little else ("this company is going to replace the need for fingerprinting!" "This company is developing a cure for arthritis!")

It's also my understanding that it's usually only companies in trouble that execute reverse splits. So all of this leads me to recommend that you take a close look at this company and if you're invested in it, consider whether you want to hang on or not. Penny stocks tend to go to zero more often than they go to the moon. This particular company might be a good one, but maybe not. I know nothing of it myself, but am issuing some general cautions.

Fool on!

Selena
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