Well yes. Dry ship and Great Basin and Rennova etc etc. There are dead cat bounces though and big ones. The previous mentioned all had many of them as they died. Dead cat bounces have to be timed just right. One with experience and knowledge of toxic financing like this warrant deal, those that can read financials as well as charts and are battletested to withstand are the only ones who should even attempt playing these types for a bounce. I think Ive said that 3 times in the last week. Penny stocks really are not for beginners, they are for the more experienced.
With that said I think no way FINRA allows 3 reverse splits this year. Someone mentioned dry ships. Dry ships was on Nasdaq and they allowed all those reverse splits. FINRA approves reverse splits on OTC and nowadays they don't allow more then 1 maybe 2 a year per to ticker.
This company has authorization to do 35-1 but that will be no where near enough. Especially if FINRA allows only one. FINRA isn't going to allow back to back in a short time window. The loan shark converters, the proffered share warrant holders, are counting on multiple reverse splits though. They are not going to get 3 in 1 year though. They got over aggresive on their shorting and now sit with series B and C warrants to convert later in the year but only a 0038 stock price to work with. They shot theirselves in the foot imo. 1 35-1 split won't bring the price up high enough to clear out future warrant series. This is why I think a breather happens soon on the conversions and its time for dead cat bounce number 1 to commence.
Knowledge + risk taking = prosperity
