I've posted the official DD. Now, here's what I've gathered and why I think this is a great play over the next few days.
The current PPS is .0010 with a recent bottom at .0007. The company has announced a 30:1 reverse split coming up for June 5th. Normally a reverse split means bad news for most companies. In this case, the target post reverse split price is .10...yes a dime. So with a 30:1 reverse split ratio, the current PPS would need to rise to .0030 by COB June 4th to produce a dime. That's a 200% increase from the current price. After the reverse split, $EEDG will become $RBBI...completely new ticker. We will also be uplisted to OTCQB.
The current OS is 240 million as of May 20th, 2014 with a 80 million float. After the RS, there will be a float of 2.6 million.
Finally, the latest operational news deals with an upcoming gourmet chicken restaurant opening in Atlanta, GA.
I hope this is enough to show that this is both a play for both longs and short term players. I myself have already flipped once and set up a free ride so I can be a true long and see where this goes. Nothing to lose and profit to make!
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