Followers | 2565 |
Posts | 299967 |
Boards Moderated | 29 |
Alias Born | 04/12/2001 |
Sunday, April 30, 2017 8:14:28 PM
It is not a question of "fairness". Because of the TJM problem, BLDV was a tainted shell. Was Alper unaware of that when he became involved?
And needless to say, it wasn't just ONE other company that accepted financing from TJM. The SEC cited a number of companies in its litigation against TJM, and noted there were more they didn't discuss.
https://www.sec.gov/litigation/litreleases/2012/lr22452.htm
The SEC didn't sue those companies; it only went after TJM and Yossef Kahlon, its owner. One of the companies subsequently had its registration revoked; the others are all dead as doornails.
All FINRA wanted was for the new BLDV management to prove that they were not part of that transaction that happened way back in 2010 that made TJ Management a shareholder before considering to approve the reverse split.
And then FINRA denied said reverse split.
BLDV has traded over 3.2 Billion shares over the past week or so. Only a guess, but I believe that a good portion of the 2.4 Billion shares at the DTC (Cede & Co.) that's in circulation as the ”True Float” or ”Actual Float” has been absorbed. Just think, if they would have done the reverse split, there would have been absolutely no liquidity at all for investors to buy many if any shares.
What?? Obviously, fewer shares would have traded, at a higher price.
It's ridiculous for a penny stock with $5,712 dollars cash to have a 2.4 billion share float. But it seems there's nothing BLDV can do about that.
The moral of the story is: Never, never get involved with a dirty shell.
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM