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Tuesday, September 30, 2014 4:11:51 PM
DRIO News: Current Report Filing (8-k) 09/24/2014
4.7 Reverse Stock Split. The Company covenants that it shall, within fifteen (15) calendar days of the Closing, implement the Reverse Split.
So 15 calendar days from the Closing is/would be Oct 8 at a maximum. That doesn't mean the R/S will happen on Oct 8, it means the R/S will/can happen any time between now and Oct 8.
We should be hearing further news on the exact date the R/S will be occurring as the company has stated they "will make a further announcement regarding the exact timing for the stock split" in/from the Sep 23 Closing PR.
Ever since the plan/idea of the R/S on Sep 23 the stock has held .08 and now .10 as support. There was never huge amounts of selling/dumping. And currently it appears the stock is locked up in tight hands as the biggest down day since Sep 23 was -8.64% on Sep 24, and volume has been low, under 7 million shares since Sep 23.
So this has been one hell of a steady, calm and levelheaded pre-R/S that I've ever seen. The stock is actually trending UP pre-R/S!
I'm holding thru the R/S and I am looking forward to it!
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