RS Newbs
For newb traders.
First off, I agree with ******* that your understanding of reverse splits is grossly incorrect. His calculations are right. Please read up on it online or email me directly from my blog and I'll be happy to clarify.
As for a reverse split actually happening, I hope I wasn't misquoted somewhere? I've received a significant amount of email questions lately and have provided my personal thoughts on some topics, but I've never commented on whether GACR will do a reverse split or not. However, that also doesn't rule it out. A reverse split is a standard procedure taken by uplisting candidates to:
- tighten share structure
- increase share price
- eliminate high float
- other benefits
The minimum share price for the AMEX (NYSE Mkt exchange) is $2-$3, depending on market cap, and this is established based on the minimum bid anytime during a predefined window, not the closing price. I can't speak on whether or not a reverse split will happen, but the uplisting is definitely in the works based on multiple sources side already pointed out on iHub and my blog.
It's good to note that a reverse split for an uplisting is a positive thing and shouldn't be confused with minimum price reverse splits to keep an ailing company from being delisted. GAC is significantly improving revenue and reducing loss, so this is definitely a good thing. If nothing, it will make things harder for short sellers.
Also, as ******** noted in the other post on this message board, the last few pieces will be independent auditing and independent directors in the board. This will show up in the form of an 8-K filing. Look out for that and then you'll know for sure that it's going into motion. Aside from all the clues I've already pointed out, if you wait until an official PR on the uplisting, it will be too late and you would've missed the bus.
