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March 23, 2010 – Comments (2) | RELATED TICKERS: OCNF

OCNF just got a nice pop from an announcement that it has secured long range customers for three yet to be built ships.

The impact to earnings should be a long way out (if I understand this correctly), but nevertheless it's enough to keep me onboard...

For all those considering buying or adding, be sure to buy in multiples of three... there is a 3:1 reverse split being floated on the next proxy to make NASDAQ happy.

2 Comments – Post Your Own

#1) On March 24, 2010 at 2:57 AM, LakerSteve (< 20) wrote:

Nice after hours pop of about 11%. I've been long for over a year and recently sold 40% of my position when the 3:1 reverse split possibility was announced. It just seems like they often mean the company is dying. Maybe the OCNF can regain it's sea legs and avoid the reverse split altogether.

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#2) On June 14, 2010 at 1:51 PM, RG09 (< 20) wrote:

The 3:1 reverse split got approved on June 10.

I am not sure, if OCNF is a good prospect anymore - I am thinking of getting out with a 40%+ loss.

Thoughts ?

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