GREY:GDPEF - Post by User
Comment by
lmcbainon Aug 17, 2018 2:23pm
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Post# 28479279
RE:RE:RE:*******RCG. 1:50 REVERSE SPLIT*******
RE:RE:RE:*******RCG. 1:50 REVERSE SPLIT*******Hey Lockdown - they are not pre-approved by the shareholders for that big a consolidation and it would require shareholder approval, which they would be unlikley to get. Additionally, a consolidation of that magnitude would reduce the number of shares issued by too much, so they would be unlikely to get exchange approval for it as well, as it negates too much liquidity.
A 1:50 would only leave 3+ million shares issued and a 1:20 would leave about 8+ million, whereas a reasonable target would be more in the 25 - 50 million range, not sub 10 million.
Salut - Leigh McBain