Complaint Review: Gateway Distributors

Questionable practices with common stock offerings 25,000 to 1 reverse split on stock. No answers on why this occured, Changing of ticker symbol numerous times. Then they turned right around the following year "2003" and did a 3,000 to 1 reverse split and again with no explanation.

This is a 'penny' stock that one could purchase on the OTCBB (Over the counter bulletin board). The stock was originally offered at $0.0001 per share, of which I bought 3,500,000 shares. TheSubway.com kept recommending them as the hot buy of the year. The stock was trading at very heavy rates and seem to gaining momentum. The stock was going up so I kept buying.

All in all, I have read numerous reports lately about this company doing this over and over; providing potential investors with an attractive investment opportunity only to turn around and pull out a reverse split without keeping the value somewhat the same (which may not be possible). I would warn everyone to stay away from this company (and probably many more on these smaller exchanges).

The MO of this company is to attract investors with a sure deal and making the investment look as though 'you couldn't miss'. Then, perform the reverse split and rob everyone blind. Third, change the symbol enough times within one month that I had trouble even finding it again. And finally, starting the whole shanigan over again with some other 'fabulous' investment opportunity which is about to be capitalized on.

Alan
Little Rock, Arkansas
U.S.A.