Abaxx Technologies Inc N.ABXX

New Press Release - Abaxx Technologies Announces Share Consolidation

This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated April 26, 2023 to its short form base shelf prospectus dated November 4, 2021 /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED...read article.

[Jethro980]

Just watch the future price. Shares will NOT stay at three times current after market trades consolidated price. This was a dumb move based on every reverse spilt I've ever been involved in.  Abaxx should have waited until price naturally appreciated.  NOT HAPPY!!  

[Jethro980]

Ok so if market outside of major terbulance stays normal on around the 23 of May. Abaxx shares should trade around 7.11 and stay close or move higher.  Lol. Bet they are down to 5.00 by June 30 barring major good news.  

[Contrarian333]

I don't disagree with you in general about stock splits even though there is no fundamental justification for subsequent share price weakness. In this case, it is a condition of listing on a US exchange which exposes the Company to a much broader investment audience with a greater "appreciation" for this type of technology/finco asset..  In addition the resulting float is very

[Jethro980]

Obviously I hope you are right but I don't buy the reasons. Abaxx should have been able to appreciate based on the model Re the development of the Singapore exchange, on its own merits.  I see 2 outcomes here 1.lower price in the short term and 2. Offering of shares in market ( most probable reason for consolidation.  Further eroding present holder values.    I'm long

[Contrarian333]

There is not doubt that there will be a financing at the Exchange level and that the parent will also tap the market for further funds.  

[RockLobster1]

up nicely to 7.60... or 2.53 I guess... Main thing is that they are finally at the stage of results that will be visible and get attention... could finally be a good year if they can execute and remove the risk discount...

[Contrarian333]

Looks like your fears over share price weakness on consolidation have thankfully not come to pass.  The consolidation was done in order to list in the US market where many more eyes will see the vision and progress of the Abaxx project.  I expect that listing to happen very shortly.  The float is much tigher now.

[Jethro980]

Time will tell, but I've never seen it work out for the good. Hopefully I'm 100 percent wrong this time. 

[jduade]

Any thoughts on the timing of the uplisting Contrarian? Like you, I was anticipating a quick move to list on a senior US exchange shortly after the R/S occurred. Everything looked to be on track (albeit w/a surprise) when they announced the plan to list on the CBOE. I was under the impression, based on the Bloomberg article from two weeks ago that the listing would happen as soon as last week, but

[jduade]

Looks like Abaxx now has their 40-F filing up, so hopefully this means the uplisting to CBOE is right around the corner. For anyone interested you can reference the below link: https://www.sec.gov/cgi-bin/browse-edgar?company=Abaxx&match=starts-with&filenum=&State=&Country=&SIC=&myowner=exclude&action=getcompany