Sunday, September 21, 2014 3:26:28 PM
As dilution takes the shares outstanding to dizzying heights, many of Asher’s clients find it convenient to effect large reverse splits so they can “start over.” As of April 13, 2014, ECOS had 6.9 billion shares outstanding; the number is likely higher now. A 1:2,000 reverse split would have brought that under control, but it would also have destroyed the investments of current holders of common stock.
Thanks to FINRA, that split is no longer an option. That’s bad news for the company, but perhaps worse news for Asher Enterprises and Curt Kramer. It will be interesting to watch the next moves in this chess game and whether FINRA will blackball other bad apples in the future.
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM