RE:RE:BNN Bloomberg (Video): David Klein Interview (Sept 28 2023)Pedal2themetal7 wrote: Thanks for posting the link, unless I missed it, he's still not addressing the elephant in the room, the dreaded reverse split!!!
IMHO
Well he highlighted that the company is indeed selling product into the US already (through a partner) and he did comment on their current cash position. He also commented on potential partners, that's good to hear IMHO.
On the topic of the reverse split / consolidation, ya' he kind of skirted around that. Currently the company has until Jan of 2024 to address the NasDaq listing and / or get another 180 day extension which would defer the need for a consolidation out to July of 2024. Between then and now we will get to see 3 or 4 more reports and if he is indeed on track and they beat the street estimates (yet again) then the need for a reverse split may go away.
Ideally (perfect world) we get news on an offer for BioSteel or we see another one or two institutional buyers move in and pick up decent sized positions. Something like a big institutional coming in and sucking up shares doesn't need to make the news to move the shareprice up because whatever they take off the market will be shares no longer available for margin players to toy with. If the free floating shares dry up then we are into a short-supply / high demand situation.
These stocks are not referred to as High Risk / High Reward for no reason. You need to have nerves of steel to ride these ponies until you see them break out.