Please read: Long message here but will help give everyone an idea of what’s happening.
Reverse split and massive dilution was approved. Now what happens next: A reverse split is imminent, for many reasons. First everyone knows a reverse split negatively affects the stock price regardless if it’s for good or bad reasons, so expect a sell-off beginning today on 02/28/2018. It’s like an “unwritten rule” in biostocks to sell off on reverse split news. Also very likely I’m taking a stab at this estimate, but share price will more than likely drop 40-50% below current price prior to reverse split, likely to 7-9 cents. Reason being is the sell-off and no one who’s got money will want to set bids on small dips. If they’re smart they’ll wait for the bottom just a day or two prior to the reverse split. I’m imagining due to the small amount of shareholders in the company and not many shorts(bears) dealing with OTC there won’t be a second mass sell-off after the reverse split.
Now what amount of shares will Brady reverse split? Hmm... If I were betting I’d say 150 for 1. That way share price is double prior to going into Nasdaq.
Now keep in mind the Nasdaq Minimum is $4 which the share price must hold above $4 for a minimum of 90 days prior to uplifting.
Also keep in mind that there’s other objectives that they need to accomplish before uplisting to Nasdaq.
Currently I hold no position here. I settled for losses late last year. Sadly... Regardless I plan to re-enter at the lowest point possible, which very likely is 1-2 days prior to Reverse Split.
Good luck all.
