I will explain what is happening. First the dilution. Is it done yet? No, 8k states amount owed has gone from 6.6 million down to 2.7 million. That was as of the 19th. Then one has to add in today. As a rule of thumb and when dilution is happening 30 to 50 percent traded that day is the conversion shares. Take the middle and say 40 percent of todays volume at the avg share price for the day and that gets close to 500 thousand. Take that away from the 2.7 million. Also was 8k including the 19th or not. If it did not include conversions on the 19th then take away another 750k. Debt still owed is either 2.2 million or about 1.5 million, depends if the 8k included as of close of the 19th.
Next reverse split. Again this is a QB, they will notify the public before a reverse split goes into effect. This is different then a pink sheet. Pinks don't do that. Pinks hit you out of nowhere that they did a reverse. QBs file and go through the proper paperwork. Think of it this way. A pink is an earthquake and a QB is a hurricane. In one you have no notice. In the other you know its coming ahead of time. This stock what has been approved as of the 19th is that they have permission do do 3 reverse splits. Before doing any split as the 8k states and simply because this is a QB there must be a vote to effect the split then paperwork has to be submitted with public notice and finally approved by regulators. A shareholder should get public notice well in advance of any split taking effect as long as the company remains QB. From what I have seen in the past is the public gets around 20 days notice before a QB stock effects a split.
QB status, yes they must maintain a 1 cent share price to stay QB. There is a grace period though. Stocks don't get dumped to pink right when the pps falls under 1 cent.
Knowledge + risk taking = prosperity
