TSXV:VER.H - Post by User
Comment by
gaserx2on Jul 07, 2022 12:36pm
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Post# 34808700
RE:RE:Shares for Debt
RE:RE:Shares for DebtYes, this transaction should be reviewed by the TMX Venture Exchange and the Securities Commission. IMHO. Reason being is that prior to the transaction, even though Verisante was not trading, the share price most always showed .01-.02 cents.
When a company announces a split of 1 for 10 the price should go to 10 times the posted value and reduce your holdings by 10 times. In this case the very least VER should have a post split price of .10 cents.
Looking at it another way. Verisante had a market cap of 98.6million shares at.01 cents making it worth $986000.00. When the spit came out with 9.86 million shares at .01 cents, the company had a market cap of just 98600.00. At .04 cents its only worth approx. $394000.00.
Further to this when I received my new VER shares my purchase price reflected I paid 10 times more initially, howecer the valued share price, split priced at 10 times less. Something is not making sense.
For example if you purchased back when was for .14 cents. The posted price after the split showed you paid $1.40/ share. All this is IMHO and I hope the TSX is looking closely at these splits and transactions.