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$BURU - It would help to hear something from BURU's management very soon. There hasn't been a lot I've seen since the reverse split, and that's been a little while now.
$BURU - Thanks, that's the number I was backing into using Fidelity's total of $1.80 million and the current share price.
This Market Value is a joke right now.
$BURU - Just bought some more. Fidelity has a Market Value of $1.80 million for BURU. I don't know if that's right or not - but it is very low....that's what we have been talking about here of course.
OTC Markets only has the share count through August 8th. So it was a Market Value of $1.39 million.
Does anyone have a way to confirm the number of Outstanding shares at this point?
Thanks.
https://www.otcmarkets.com/stock/BURU/security
$RGLG - Hi Bueller, Thanks for posting! I'll watch it later.
$RGLG - What's up here Ladies? It appears the Bid is strengthening. 🙂
$AASP - When it does move up - it will move fast!......imo
Very very thin.
$BURU - Just picked up some more.....I'm buying LOW - Hopefully.
$SNMN - It seems like this may be the end of the road for SNMN.
We'll see.
$BURU - Do we have to worry about BURU getting kicked of this AMEX Exchange due to a low stock price again?
This is getting ridiculous.
$RGLG - I believe it is very unwise to make the following allegation without proof:
$RGLG - Very interesting allegation by someone who is always warning that every post is collected and can be used in a court room:
$BURU - We are absolutely on fire!!!
$KGKG - Congrats to all for hanging in there.....I moved on with no loss about six weeks ago.
$WKHS - Yes, what a lot of us on the sidelines have been waiting for!
I picked up some too this morning.
$BURU - I almost sold some shares yesterday - but figured it will bounce back if we get some news.
This looks great! - Glad I didn't touch my shares.
$EXAI - Still seems to be under the radar even after the Recursion news. I have been accumulating for the most part under $5.
$KGKG - I disagree with everything you posted.
If you don't have the stomach for this, Vanguard has an Index 500 Fund
$KGKG - If you put this TucsonPhil Clown on IGGY, you don't have to read all the BS.
(Never liked Tucson...rough looking town).
$BURU - Still bullish! But why is this TANKING???
$SSTY - I wonder how many shares are actually still held. I have to believe many have had theirs written off or sold when it came to life a few years back.
There can't be many SSTY shares left.
$BURUD - lol....Now there's a post I can totally relate to.
$BURUD - I agree. It seems like a very unique opportunity the way it has all worked out with falling off the NYSE and reverse split. So few shares are out there right now. At $1.15 per share - we're still trading at about $.029/share before the reverse split.
It seems to me there is plenty of room for the pps to take off.
$BURUD - Trading very nicely since the split!
$BURU - Thanks for the posts. Obviously, there is a lot going on here. And most of it seems to hinge on getting back on the NYSE and adhering to their rules (e.g. maintaining a certain price per share and guidelines on how many new shares can be issued).
It's going to be an interesting few months here I believe. I have no clue how the share price is going to react after the reverse split. I'm just going to sit back and see what happens here.
I wouldn't think they would issue new common shares until they are back on the NYSE and can attract some bigger or institutional investors.
$BURU - This was in the June 13, 2024 Shareholder update - (I think the 2nd part about Capital Structure is referring to additional shares after the split - I could be wrong. As far as I know they are not back on the NYSE after the split):
Maintaining NYSE Listing
As part of our overall recalibration, consistent with the authorization previously provided by shareholders, we will be implementing a 1-for-40 reverse stock split of our outstanding stock effective June 24, 2024 and expect that our stock would begin trading on June 25, 2024 on a split-adjusted basis under a new CUSIP number, 67021W301.
We believe this will benefit shareholders by reducing the number of outstanding shares and increasing the share price, making the stock more appealing to institutional investors and analysts who tend to avoid stocks with low prices. Additionally, it will help the Company continue to satisfy the minimum price requirements for listing on the NYSE and make it easier for institutional investors to compare NUBURU's stock price with its peers. The reverse stock split does not affect the Company's fundamental value or the proportional ownership of shareholders. Your stake in the Company remains unchanged.
Capital Structure
In addition to our capital-raising efforts, we have entered into agreements, and are pursuing additional agreements, to extinguish some of our outstanding debt, including the conversion and settlement of outstanding convertible promissory notes in exchange for shares of common stock. Currently, we are limited by NYSE rules that prohibit an issuance of common stock in a transaction if it would result in the issuance of shares equal to 20% or more of our outstanding shares. We intend to settle additional amounts of debt once we have obtained shareholder approval to issue shares in excess of 20% of our outstanding common stock for such purpose. Additional information regarding our settlement of debt is available in a Current Report on Form 8-K filed with the SEC on June 13, 2024.
$BURU - I'm not sure after reading it a second time. It says that the Authorized shares remain the same and the shareholders have the same relative percentage ownership after the split.
There will be no change to the number of authorized capital stock of the Company. The Reverse Split will have no effect on the par value of the Common Stock or the Preferred Stock. Immediately after the Reverse Split, each stockholder’s percentage ownership interest in the Company and proportional voting power will remain unchanged, except for minor changes and adjustments that will result from the treatment of fractional shares. The rights and privileges of the holders of shares of Common Stock will be unaffected by the Reverse Split.
But the one of the two prospectus states that UP TO 15.6 million shares would be sold. The other prospectus is for insiders it looks like.
We'll see.
I don't understand when this kicks in:
The Prospectus relates to the offer and resale of up to 15,600,000 shares of the Company’s common stock, par value $0.0001 per share (“Common Stock”), by Lincoln Park Capital Fund, LLC.
$BURU - I'm hoping the 15,600,000 shares get gobbled up by Institutional Investors.
$BURU - Sweet! We have our new record date for the reverse split.....Tomorrow!!!!
$RGLG
$RGLG - Bueller, thank you for posting the update.
Informative update - you can obviously sense the frustration of management. There is a sense of hope too.
I appreciate their transparency.
$RGLG - They do post a lot though!
I believe we must be getting close to FINRA giving the green light. However, FINRA still needs to approve the Reverse Stock split. Hopefully, that is considered with whatever else they are looking at and it can be done/approved the same time.
$RGLG - Excellent post Bueller. Not everyone understands Reverse Mergers. You have to experience a few to grasp it I believe.
$RGLG - It's very straight forward. If you don't understand the transaction and the need for a reverse stock split, then you don't understand how to capitalize a Reverse Merger.
$RGLG - Bueller, I agree, it is huge! I am very happy to see the financial statements.
$RGLG - This is from Investopedia:
Reverse mergers also have some inherent disadvantages, such as:
Some reverse mergers come with unseen circumstances, such as liability lawsuits and sloppy record keeping.
Reverse stock splits are very common with reverse mergers and can significantly reduce the number of shares owned by stockholders.
Many chief executive officers of private companies have little or no experience running a publicly traded company.
Many reverse mergers do little of what is promised and the company ends up trading on the OTC bulletin board and providing shareholders with little to no additional value or liquidity.
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This is why I have been wanting to see the Merger Agreement - I wanted to know how large the Reverse Split was going to be. I am pleased it's only 1-20.
$RGLG - Show me a reverse merger that does not have a Reverse Stock split.
$RGLG - Hi Bueller, I didn't see this yesterday - thanks for your posting. As we have been speculating, the increase in the Authorized Shares was done to complete the Reverse Merger.
Lots to digest here.
Very happy to see the unaudited filing - it will give the Auditors something to start with when the time comes.
$AASP - I knew he owned a lot - but had no idea he owned that much.
They have been very patient with the Shell. I hope they have been waiting for a great deal!
I missed the filing - now I can figure out the number of issued shares based on the number of shares and % he owns. (I see Item 5 has what I was looking for. It's what I thought the new number would be).
It hasn't been updated on OTCMarkets yet.
$RGLG - I agree, those little taps at the end of the day, like Friday, are irritating.