RE:RE:RE:RE:News Good morning All,
Well I must admit that I had not expected the 1:10 consolidation at this time. I agree with BudFoxx in that the timing of the consolidation is puzzling to say the least. We have two significant catalysts pending next week which very likely would have resulted in the share price moving and staying north of $5.00, barring a major bear market sell-off. I had assumed that we may see 1:5 at the most, with the consolidation happening down the road.
The only rationale that comes to mind is what Bud had mentioned in posts yesterday.......future financings. From a market perception standpoint, issuing additional shares in a financing when the float is significantly less due to consolidation creates a perception of less dilution. Perhaps management is also trying to mitigate the negative impact of a consolidation by announcing it during what is hoped will be a positive news period. We should check SEDI to see if any insiders have been unloading shares during this period.
Anxious to see where we land today. GLTA longs.
Carter