flight to quality, page-8

The reason why BMI is selling at this level is that their issued capital is about to blow out to about 3.8 billion shares (or therabouts) AND then to be followed by a reverse split of 25 to 1 which is one hell of a haircut AND this is due to happen in September.

Reverse splits are a real punishment on the shareholders as many stocks behave woefully after the event i.e EXT. For a really awful example see GDA which has actually manged to collapse back to it pre split price.

Have a look at the asset valuation in the prospectus before u rush into this one.