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sumotrader

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sumotrader

Re: viridian post# 8950

Tuesday, 09/23/2014 10:41:27 PM

Tuesday, September 23, 2014 10:41:27 PM

Post# of 14303
Well said viridian. The company made public on June 30th that the board had approved a 1 for 5 reverse split so no one can say they are surprised by today's announcement.

When the O/S and A/S are virtually the same something dilutive has to happen and it did today. Individuals offering up the positive spin will be the first out the door tomorrow morning, that's the game we all play with DRIO.

The issuance of 49 million shares a couple weeks ago tanked the PPS from .80 to .05. Today's announcement of an additional 40+ million shares will likely have exactly the same effect... that's why the news dropped after hours.

Short term pain though as I truly believe the company will succeed and recover.

Good luck

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Volume:
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  • 1D
  • 1M
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