The Final Nail It's official. Current shareholders have been buried with this deal. If /when the stock starts trading again, it will go below a penny. Base on this news, there is absolutely no reason to buy it prior to the shorts killing it after the consolidation. I'm not sure it will trade again until after the consolidation but the only people who will make money on this thing are those who wait and buy after it seeks its new level post consolidation. They should explain why they just didn't sell it for the 21 million. At least current shareholders would have seen some return. Now, we will get nothing not even the Vaseline.
We will never know what current management got out of this but it will be a lot better for them than it will be for current shareholders. Probably not illegal and they probably have enough votes but it is immoral and disgraceful to take a course that will ultimately value our investment at a fraction of a penny.