THOUGHTS REGARDING THE REVERSE SPLITI would like to take a moment and possibly put the Reverse Split to rest.
From a post a couple of weeks ago, I mentioned that it is more myth that Reverse Splits are somehow "bad". Typically, they are done by a company that is in a LOT of trouble. They do the R/S, and the share price continues to drop (because it's a lousy company), but then everyone blames the R/S rather than say two things that are obvious. a) It's a lousy company, and b) They made a lousy investment.
The truth of the matter is reverse splits are just, and only, math. The fortunes of the company will move just the same, on the merits of the company.
Secondly, I see people here biotching about the R/S and the timing. Personally, I think the timing was absolutely brilliant. They knew that good news was coming, and did the R/S such that Institutional investors could waste no time in taking positions, or being blocked by covenants saying the share price had to be above a certain level for them to be involved. As far as I'm concerned the timing couldn't have been more perfect. Now we have instutions interested and involved, clamouring to get shares on a tight float. Now THAT is nice.
One final comment here. People blamed that hard drop the other month on the R/S. Again, not true. That was a HARD orchestrated drop to shake out shares. Did it do the trick? Absolutely. People barfed shares allllll over the place Welcome to the market. But the point here is is had nothing to do with the R/S somehow "causing" the drop. That's just a wrong thought.
Good moves by the company. I'm SO looking forward to further strong gains.