Yes Crazy, anyone thinking that Waz counts as a negative one shareholder after selling his massive share holdings has probably been taking new generation math. His position did not all go to existing shareholders. More than likely there are many new shareholders who were willing to buy a small speculative position with the stock down 66% on the day. In all likelihood, there will be more and more small buyers willing to throw a few hundred dollars at this for the chance of taking home a 100 or 200% gain in several months when and if the stock reaches the Reg A price of .0005 pre-split. My guess is that the R/S announcement will create more shareholders rather than less, especially if the stock price continues to shrink.
In January, I reduced my position here from almost ten million shares to a million, as I became dismayed with the terrible price action in the stock and the vagueness in the press releases failing to move the stock price. So I really don't have a lot to complain about and can be fairly objective in my analysis. But I can't begin to express how disgusted I am for the loyal shareholders here who trusted Orie, and then had him decide to wipe out the existing shareholders for some totally ambiguous reasons. No one should have lost 66% on this investment overnight on a stock this undervalued.
IMHO there is nothing lower than a "nice guy" who pretends to be the champion of the shareholders, and then wipes them out under the guise of needing to do a reverse split, especially when Orie many months back dangled a REG A with an offering price ten times higher than the stock price to entice shareholders. Not only that, but he had four billion shares he could have used for acquisitions before reverse splitting. That increased authorization of shares had already taken a major toll on the stock price, because of the potential dilution. As it turns out, he could probably have gotten more than .0005 (meaning more than the post-split .005 for the Reg A shares) for those shares if he had come up with a good acquisition and hired a decent investor relations firm, as many here recommended to him.
Now, as far as having 54 shareholders too many, what kind of idiot decides to wipe out the existing shareholders for that problem? Stockholders of record are just that. They're on record and you don't have to search for them. I can't believe he couldn't get some 100 share stockholders from the past reverse splits to sell their shares for a $25 or $50 Visa gift card or cash, but I guarantee if it were me, and the choice were between destroying my loyal shareholder base or ponying up a few thousand dollars to get rid of 55 shareholders, I would choose the latter course of action, and personally get it done if I'm too cheap to hire a secretary. This is not an insurmountable obstacle just because he didn't want to spend the time to do it.
And then just to add insult to injury, what up and coming company does a reverse split, and doesn't even make plans to achieve a share price of a penny to get the stock to a better exchange? IMHO Orie is lacking in the big picture financial management skills needed for greatness. It's commonly known as "being penny wise and pound foolish." It's great that he used his own finances to reduce interest charges along the way, but to not hire a public relations firm and to allow the stock to lanquish at extreme undervalued levels is inexcusable. And his stated reason for the reverse split, under any reasonable scrutiny, makes no sense. So the only conclusion I can reach is that Orie wanted a lower stock price. The question is what does he intend to do with it? I mean at .0002, this has a market cap of $420,000. Maybe he wants to take it private for a couple hundred thousand dollars. SMH
Ccret, if you read this, in the pictures you took, was Orie driving the recycling truck? Lol
