No surpriseThat Kwesst management cancelled the meeting Monday. Likely because they knew that shareholder votes would not approve the proposed share consolidation. So instead the board over rules and says we are doing it anyways, first it was supposed to be 5 for 1 and now they want 10 for 1
Once again they say it is in the shareholders best interests, in order to comply with the minimal nasdaq listing requirements. I would argue that it is managements best interests to protect its shareholders and grow the business in order to comply.
They have proven that they can't, and should have never listed on the nasdaq. There is nothing left, dilution has destroyed the investors, and with this new proposal roughly 1.6 million shares only. This will no doubt create liquidity issues.
Absolutely no protection for the working man or women. It is shameful what some of these management groups get away with.