RE:RE:RE:RE:RE:RE:RE:RE:RE:Glenn 16-2h well initial results are in!Yes, your right Himmler, anything is possible and they are a survivor. Another concern with a 10:1 consolidation is for some unknown reason, most likely due to behavioral trading, rather than logic, is the fact, that it is, much easier for a stock to go from .60cents to $1.00, than to go from $5.90 to $10.00. No one knows why, just a fact of life.
My main concern with a 10:1 consolidation is Dilution. It is much easier for BNK to issue more shares after the consolidation, with only 24 million shares outstanding.
I agree with rajm that a consolidation is warranted but not a 10:1. As you mentioned, himmler, there are some institutions that are not allowed to purchase stocks under $5.00. However, we do not need all institutions to own this stock. Many of them have now reduced this amount to $3.00 per share. Furthermore, the majority of mutual funds have small cap funds, and they are allowed to purchase companies like BNK at these levels or just above.
It is the current trading of BNK that is really interesting. WTI is at a 52 week high, hovering at $68.42, yet our stock is not reacting. Furthermore volume has dried up completely. WHY?. As I mentioned in an earlier post, the big boys, have not gotten all their shares yet. I highly recommend that, if possible, we refrain, from selling at this time.
Anyway you look at it, it is just a matter of time before we see an increase. They[Macquerie and the other institutions] cannot hold us back forever. Rajm is absolutely correct in assuming that this increase in price wil come with a new debt issue