RE:RE:must be ......Stanny1 wrote: Just did the math. Only 42 million shares outstanding. Don't really see how they can do that.
One never knows -- look at SYTA. They qualified for Nasdaq by doing a 1 for 145 reverse split. They have now been informed that they no longer meet minimum standards. This is the news that was put out in announcing their upcoming AGM:
See this excerpt from a news release of July 3, 2023:
"The Company's plan is to effect compliance with the Low Price Stocks Rule and the Minimum Bid Price Rule by effecting a reverse stock split. The Company will hold its Annual General Meeting of shareholders on August 3, 2023 and will request that its shareholders approve the proposal to authorize the reverse stock split at a ratio, determined by its Chief Executive Officer, that will result in the Common Shares trading above $1.00 per share."
With the current share count (about 80M) and the current price (4.5 cents) it appears they are looking at a bare minimum of 1 for 25 to get the price above a dollar. Failing that I guess it goes to the pink pages - but I'm not sure if that is how it works.
Apparently they have until August 12, 2023 to satisfy the Nasdaq admin. Seems next week will set the scene. Only critical/desperate if their management wants to maintain a certain standing.
So you can never count out an RS but things have to be desparate. I don't believe the ROI situation is desperate. A lot of cash (relatively speaking) is flowing in to pay the "expenses" and maintain the business. It just never gets to the point of benefiting shareholders. Probably more of a case for becoming a private company and then there are no common shareholders to be concerned about or to have to answer to. If you're not going to benefit public shareholders why have them -- just for financing packages??