Did the stock get to $11 post the reverse split? I know it was in the $5 range when the company was promoting getting listed on a national exchange like NASDAQ. NESV only had 4 million shares outstanding then, most locked up. Not much to borrow from after the shareholders go wiped out with the promise of $60 million, a listing, and an acquisition.
Shareholders got the acquisition, but one with an operating loss and a shareholder deficit. Shareholders didn't get the $60 million, but they got $1 million in toxic debt instead.
Now shareholders are faced with the same story, an acquisition, infusion of capital, and a listing. Wow, same story, different year. What is next, 1-200 R/S?
And who wants to short a 2 cent stock. 1 million shares requires $2.5 million in margin requirement.
