RE:RE:RE:RE:RE:RE:Reverse Split or Share Consolidation or Share RollbackAny stock listed under $5 is a penny stock, (that is the accepted definition of a penny stock) so I don't understand how a stock that has a .05 cent listing and is rolled back at 5 or 6 to 1 is going to draw in serious investors, even if it goes to 50 cents. I have a number of positions in quite a number of penny stocks that are now selling at 10 to15 times the price of Maritime Resources and they aren't drawing in a lot of serious investors. In fact the one stock that has made me a good return over the last month I purchased for .015 cents and I sold it for 6.5 cents more than a 4 bagger.
If you buy a stock listed for $1 it would have to go over $4.35 to get the same return, very hard to do in any environment.
I can see management issuing a reverse split at 10:1, that would only settle the price at 50 cents post consolidation but the serious investors don't want a 50 cent stock. Serious investors are institutional funds who buy in for a long term view and that means a stock that is for sale for $5 or more. Anyone who buys Maritime Resources at this price and 50 cents is only speculating. Sprott, Dundee, and Crescat Capital and any of the others are speculators they aren' t the buy and hold crowd. It is much easier for a stock listed at 5 cents to double to ten cents than a stock that is listed at 50 cents to go to $1.
If NP you read my posts, I only said that if Maritime brings in a reverse split I will be selling prior to any share consolidation before the shorts show up. Face it at over 500 million shares this stock has a huge number of shares but a share consolidation at this point will only hurt the existing shareholders.That also doesn't mean that I won't get back in after this stock has had its value diminshed at a better price. That too is speculating. Speculation is what drives the penny dreadfuls. If you consider yourself a serious investor at these prices and at much higher prices you are only deluding yourself or trying to delude others.
What drew me to this stock is the interest that New Found Gold might have, they would be serious about getting their hands on Maritimes mills and that would involve a takeover at much higher prices than we are currently seeing. Cheers!