[ILGY][TWOG] Now here is a reverse split merger with a horrid history of false Pr's and stock selling.
Background: Formerly TWOG= Formerly=Alaska Oil & Gas Ltd. until 7-05= Formerly=Frontier Oil & Gas Ltd. until 11-04=Formerly=Cable Advertising Systems, Inc. until 7-04
In May of 2006 TWOG reverse merged into ILGY. TWOG share holders received. Amount: Div: 1 restricted sh International Energy Ltd. for every 10 shs Com held
Pay Date: 2006-05-01
Record Date: 2006-04-24
TWOG was to cease and become ILGY...WRONG TWOG continued to trade and here is what PINK sheet information page reads yet it continues to trade:
TWOG -- Transworld Oil & Gas, Ltd.
Com (1 Cent)
Investors are advised that Pink Sheets has not been able to contact this issuer. Please refer to the Company Notes below for company status and other important information, including the Last Known Address, where available.
If you have current contact information for this issuer, please complete the Update Company Information Form or send an email to info@pinksheets.com
In the mean time ILGY laid dormant for several month at the reverse split price of about .40 cents. Just recently trading volume has skyrocketed and the price has plummeted to a mear
.0065. Obviously the selling of fresh paper has commenced.
The TWOG holders that received restricted shares to date still have not received their certs.
Between the two companies the RS history is as follows:
Capital Change=shs decreased by 1 for 1,000 split. Effective date=7-29-05
shs decreased by 1 for 1000 split Pay Date: 2006-03-08
shs decreased by 1 for 400 split Pay Date: 2004-07-14
The Spam and Scam meter rating says steer clear of this SCAM at all cost. The promoters have a history of PUMP and Dump.
