I spoke with management...Mr. McCormick to be precise.
Knowing what the candid responses would be, I did my best to bypass the generic stuff and ask about the R/S, chapter 11, hostile takeovers...those sorts of things. Chapter 11 really didn't seem like an alternative to a "NO" vote on the R/S, but you never know. The one response that hasn't sat well with me is the latter. When I asked if, rather than a R/S, if they had considered a poison pill amendment to avoid a hostile takeover, he sort of laughed and said, "I'll let you guys speculate on a takeover" to which I said, "It's not speculation, it's a reason listed in the proxy your company released regarding justification for the potential R/S and increased A/S." He didn't really respond. It was strange.
At this point, unless a reverse split is totally avoided and a debt restructured, ECIG isn't the dream stock it once was to me (like 99.99% of all pennies to be fair). I will still play it, but cautiously. Unless the vote is retracted, I can't imagine it doesn't hit another big loss in the short-term.
This is just my opinion. I wanted to share a bit of the conversation with you all so you knew. If anyone can see a clear road to success that I am missing, by all means reply. For now I am very cautious.
