Not gonna happen... If they did a roll back of shares without getting to a fair valuation first, everyone invested here including the insiders who financed this company, will lose their shirts. If you look at the numbers thru the years, early financings, ect, no one has made a cent and the majority of investors are heavily underwater. And it seems to get worse the better the company does. This is not normal. You will not find many shareholders holding stock who are happy. And this is not a new phenomenom.
Insiders own half the shares so the share count is not the problem. People selling the stock is the problem. Why is the company not out there contacting their shareholders/advisors to see who is selling and why? They should be proactive in buying shares from people privately or publicly who are selling. Retire the shares once you get them or hold them. But get out in front of it. Solve the problem and be proactive instead of sitting on your hands. You have got to flip the numbers of Buy/Sells.
This company is performing fantastic, has plenty of cash, proprietary technology in more ways than one, 50% revenue growth, Huge insider ownership, Profitable, and the best customers in the world. And look where we are? Why would anyone buy their stock when it does nothing but go down?
THEY WON'T! This has been going on for years. This is not rocket science. I honestly thought bringing that wall street guy on would fix some of these issues, but I clearly was wrong. He needs better advisors who understand markets and shareholders.
For some perspective...Take a look at EQ on the Venture exchange no less. EQ has Triple the market cap of Snipp, losing money all the time with declining revenues. Latest 3rd Quarter...Revs $2.1 million, lost $1.7 million. EQ has been around for a very long time. So apparently the exchange is not the problem either.
Let me ask you a question...
Are the retail sellers gonna stop selling because they only have 10,000 shares instead of 100,000 shares? Are market makers gonna stop doing what they do?
Of course not. That has got to be the dumbest strawman argument there is.
I see and participate in private transactions once or twice a year on this Venture exchange. CEO's know exactly where to get shares. And if they don't, they should resign immediately. Knowing your investors and base is critical to success as a public company.
Market makers are the only ones making money here and they love this situation and it can go on for years.