TSXV:EVE.H - Post by User
Comment by
BobbIeheadbobon Dec 04, 2020 8:54am
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RE:EVE...is it time for a 10 to 1 REVERSE SPLIT?
RE:EVE...is it time for a 10 to 1 REVERSE SPLIT? If EVE can't get financing soon then it's CCAA protection. No mention of EVE seeking financing so are they giving up is the question ?
reallyBobbyZ wrote: EVE, maybe a 10 to 1 REVERSE Split at 5.5 cents is a good move?
That would shrink the current 288,000,000 shares to 28,800,000 and share price would be 55 cents.
Mel R would have about 5,600,000 instead of 56,000,000...same reduction as all the other shareholders...BUT, they would be worth
55 cents = $3,080,000. Mel R should be ok with that much...because that's the same value her shares are worth today.
Then, create 28,800,001 new shares you can sell to a SAVIOUR with DEEP POCKETS. Yes, creating those new shares will cause the share price to drop by 50% to 27.5 cents each and the SAVIOUR would have CONTROL but that would get EVE a fresh $7,920,000 to pay off that $6,000,000 in payables and have almost $2,000,000 left over.
Yes, Mel R's shares would drop to 27.5 cents each just like the rest of the shareholders...but she would still have $1,540,000 in EVE stock; still a millionaire!
EVE needs fresh $$$, why not?