Titan Pharmaceuticals Inc (TTNP)

[Rentier]

If the do end up doing one (which seems they are going to let shareholders vote on it), you're crazy to vote for it. They would have to do a 1 for 6 or more split, which would wipe out any chance of current shareholders making anything way I see it. Because the stock would have to go up so high afterwards to make any money it isn't funny.

Then this from proxy statement:

"There are numerous factors and contingencies that could affect our stock price following the proposed Reverse Split, including the status of the market for our stock at the time, our reported results of operations in future periods, and general economic, market and industry conditions. Accordingly, the market price of our common stock may not be sustainable at the direct arithmetic result of the Reverse Split. If the market price of our common stock declines after the Reverse Split, our total market capitalization (the aggregate value of all of our outstanding common stock at the then existing market price) after the split will be lower than before the split. "

Count on the bold part coming true!


The true reason why they want to do it is in the proxy statement too, "so they can issue yet even more shares after the split!"