Post by
WDriscoll on Nov 01, 2016 1:48pm
1:5 to 1:10 reverse stock split proposed
I just read the annual meeting notice and the big item up for vote this year is a vote to allow the board, at any time they choose in the next year, to authorize a reverse stock split from between 1:5 and 1:10. The main reasons they give are regarding a hypothetical sentiment improvement to increase the perceived legitimacy and viability of the company so that brokers will have an easier time promoting the company to potential investors in their brokerages. My beef with that idea is how much more legitimate or viable does a stock share price of between $.25 and .50 with the respective 1:5 to 1:10 reverse split actually present. $.25 to $.50 is still going to be perceived as a penny stock and investors and brokerages will still see this company as risky at best with more room for the share price to decrease than it does presently. I, for one, will be voting my 900k shares in the negative for this proposal unless someone on this board can present a good argument in favor of the reverse stock split...any thoughts?
Comment by
frewil11 on Nov 01, 2016 2:00pm
I felt this was going to happen thats why I sold off awhile ago but recently have picked up some at these low prices, 20k have always liked their product .
Comment by
StoogeNo4 on Nov 02, 2016 11:44am
We should have filed a class action suit for gross negligence years ago. This is the result of not having done so. I throw the idea back on the table.
Comment by
goodtoreadthis on Nov 07, 2016 3:08am
.05 is just too close to zero. 460 mill shares is a staggering number for a company trying to jump into production. The change harms u not at all. Only hold 128 K shares