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Another, and me thinks, more likely scenario:

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Lazarus Member Level  Saturday, 03/02/19 01:04:13 PM
Re: Tower of Hanoi post# 1039
Post # of 1062 
Another, and me thinks, more likely scenario:

Insiders take control of the company with majority ownership of stock.

They have an opinion letter drafted by recognized auditor to determine the value of the company. Opinion letter values company at book plus a paltry premium due to risks (which will be well cited).

They vote to take the company private.

Shareholders are bought out at @ ~ $5.70 per share. (which will be a premium to the whatever the stock is trading at when announced)

Lots of shenanigans in the these penny plays. Think like a criminal (white collar, of course). I've seen the CEO's of these companies *suck from the public teet then slam the door on it, once it's established and beginning to make a profit.
__________

*a simile borrowed from a fellow investor.





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