RE:RE:BCTX.....massive dilution.....Again !
How's the grinnn holding up? Presumably you were not a shareholder prior to the 1new share for 300 old shares?
A few years back I was a holder of 30,000 shares of BCT purchased, if I remember rightly, at about a 30 cents ACB. and it was trading at the 30c - 40c range. It then started to drop off until it got to the 4 cent level.
At that time the new Chairman decided it would be in the Company's best interest to do a 1 new for 300 old consolidation as a part of moving to the Nasdaq. I did send him a note saying I thought it was a bad move but he was resolute in his beliefs that the Nasdaq would be a whole different story. Some time after that, they went ahead with the 1 for 300 and I ended up with 100 shares valued at $12/share. My original investment of 30,000 shares @ 30c was $9000 and my new 100 shares was $1200 -- today they would be $120. Over the next few weeks/months the share price got as high as $25, if I remember correctly, and then started the inevitable drop. I bailed at $19 i.e. $1900 for my original price of $9000. It continued it's drop and mostly sat in the $8 range I believe although this past year it slid from $6 down to less than a dollar.
Anybody that was in before the consolidation is far, far, from their original buy in. I know the Chairman received a bundle of shares initially which like mine do not have a lot of value but I would assume he has received many more at new values.
Original 30,000 at say 30 cents($9000). Current price of those after the 1 for 300 = 100 shares at todays $1.20 = $120
We can at least say that the original investors are not happy campers if they stayed. Not sure how many bought more or bought back in to the new consolidated shares at various levels. I just went and found a new playground with my leftover $1900 -- not to say it has been a great ride there either. This small cap country continues to be a very rough ride. As the saying goes in sports (and it seems in small caps) "You do not have to be good to be lucky but you sure need to be lucky to be good".
A little long and rambly - sorry!