![](https://investorshub.advfn.com/uicon/315468.png?cb=1473363790)
Friday, June 22, 2018 11:41:28 AM
Either way Bemax is finished - but the JSJ lawsuit has to be dealt with - it appears from the 8-K that Bemax is setting up for a reverse split so that they can repay JSJ.
We know that Bemax included a non-dilutive clause in the 25 million Series A Preferred Shares - and they convert to 150 million common shares.
If Bemax does a 1:100 reverse split that would make the post split price (theoretical) 0.06 - which would almost immediately settle at 0.03.
When JSJ starts dumping the price will continue to drop - JSJ will dump at a average of 0.005.
That would be close to $800k.
For shareholders that hold 1 million shares which is worth $600 today.
Post split they would own 10,000 shares.
If they sold at 0.015 - that would be $150. Which is a 75% haircut.
IG
"Straight Facts Homey!"
Recent BMXC News
- Bemax Inc. Positions to Capitalize on Industry Growth with New Improved Quality of Mother's Touch® Disposable Diapers • InvestorsHub NewsWire • 06/24/2024 12:00:00 PM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM
Branded Legacy, Inc. and Hemp Emu Announce Strategic Partnership to Enhance CBD Product Manufacturing • BLEG • Jun 27, 2024 8:30 AM
POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • POET • Jun 26, 2024 10:09 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM
Bantec's Howco Short Term Department of Defense Contract Wins Will Exceed $1,100,000 for the current Quarter • BANT • Jun 25, 2024 10:00 AM