TheDirectory.com, Inc. (SEEK)

[Carini]

At .01 this stock would have a market cap of over $25 million at the current O/S. For a bunch of barely-functional websites.

In the meantime, there are literally billions of shares waiting to be sold at .0001. The A/S is 30B for a reason.

At best, SG may have managed to negotiate the debt down and convinced lenders to settle for a fraction of what is owed, but unless he's paying cash (highly doubtful) those kinds of deals generally only come with an agreement from the company to R/S so that lenders can convert the remainder of what is owed and dump those shares into the market.

And with over 2.5B shares outstanding, SG will have to reverse this anyway to get anything going. Otherwise it will be, at best, a .0001 to .0002 flip, and more likely never see any substantial buying at .0002 because there are just too many .0001s to be sold (by lenders and long time holders looking to get out with at least something).

I'll take a guess and say a 1:1000 reverse split is in SEEK, future, if not a 1:5000 lol. Anything less and I doubt they could dump all their shares before it got back to no bid.