I agree a reverse split is the right thing to do and is inevitable.
In regards to your question FD2you I can think of many reasons.
The company is growing, as far as I can tell they were doing around $1mill in sales 4 years ago and my guess is that they are doing around 3.5 to $4 million now. Not a bad growth rate but if they had the proper people, and dollars for building inventory and advertising the growth rate could be much higher.
How about using the stock as a way to attract good motivated employees with stock options. How about hiring somebody with good experience to run the company, give them lots of options, and turn them loose. Corley does not seem to have the experience/knowledge to take Incrediwear to the next level. He flies all over the world getting the product in many countries that amount to him having free vacations. 350 million people roughly in the US, that is one hell of a potential market if he could get things moving. All the Baby Boomers (me included) that have aches and pains.
I am not sure how old Corley is well into his 50's I would guess, what is his exit strategy? I still can not figure out why he would not do the RS and get things straightened out. It makes no sense. His net worth would be worth many millions and he would have a company to sell when he wanted to retire.
As a final note, he has given me documents that state "Star Nutrition dba as Incrediwear", if he tries to separate the two, or sell Incrediwear separately I will go after him with everything I have because I am tired of his BS and other companies/people who have lied to me in the past.
As somebody else said keep up the heat on him, call him, email him. Let him know we are tired of this. I told him I would give him a little more time because once somethings get started they are hard to stop. Please let him know that I am not alone.
