Banro Corp. fka BAA

[Museloser]

The reverse split will be much larger than one for 10. Depending on how much management has to actually raise after the split to finance their incompetence, that would still leave the current common shareholders with more than 40% of the company. The goal of this management team ever since they did the sweetheart preferred deal in February to finance their bonuses is to dilute the common shareholders completely out of the company (to the tune of less than 10%) That is why they were so blunt in the last release and so blunt in treating the common holders like dirt. They are actually pushing for the stock to go to where it can have a one for 50 or one for 100 reverse split (5 cents) so that they can hand over the entire company to the current preferred holders that financed their bonuses via the issuance of the new shares.

Is this borderline criminal? Yes , you bet it is. But this is a Canadian company. People should have known about the history of these Canadian mining stock scams. Instead, countless investors fell for the pump and dump specialists running the scam on this stock