Followers | 53 |
Posts | 3489 |
Boards Moderated | 0 |
Alias Born | 02/05/2014 |
Friday, August 26, 2016 12:37:24 PM
You have to remember that up until about June of 2014, DNAX was an OTCQB stock, not an OTC Pink stock. This was a respectable company trading as high as about $1.15/share. The company has never had a reverse split.
After Eric Fowler, the CEO before interim CEO Mel Leiner, released a PR in the summer of 2014 that claimed that DNA had a distribution agreement with a Coca-Cola bottler, and that turned out to be FALSE... a flat out lie designed to intentionally harm the company, the stock crattered.
Talk on the street at the time was that the SEC might halt the stock. That didn't happen, but it really screwed things up for DNA.
In May of 2014, OTC Markets made a new rule that requires a ticker to be at least at one penny for one day every 30 days. Just as that rule went into effect, DNAX dropped to just below one penny for the first time, and the ticker was automatically downgraded to OTC Pink per the new rule.
Then, the massive dilution started in an attempt to keep things moving and keep the company alive.
Mel just always seemed really ashamed that their good business fell so far.
Obviously, their attempts to keep the company alive failed, they sold off their remaining excess inventory to Big Lots at a loss, and the company has been dormant since then.
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM