I really wonder if things haven't played themselves out in a manner the company wanted. To begin with both reverse split packages the company proposed were so bizarre they practically guaranteed being turned down, especially with a provision that if not voted it was counted as a no vote.
It just might have been their intention to have it play out in such a way as to have the stock up to something like the dime to quarter range, and then perhaps ask for something like a one for four, where investors might willingly go along. I'm not saying that even that is necessary, it isn't, the O/S isn't really that excessive today, and with a reasonable share price they can bring in needed funds, or partner at a substantial financial gain once they have proof that the cream works.
I had certainly doubled my position earlier this year with the intention of selling off the half of the shares that I paid substantially more for. Now I'm not doing that, but will sell enough to give me some tax loss for the year. As of now I don't intend to sell until Tuesday as a market order, I do have a limit order in place at substantially above the current price. I did confirm with Fidelity that a trade made in that way is all that's necessary to establish the sale this year.
I frankly am getting rid of some cannabis stocks I've owned that are now worth practically nothing, but after the patent grant OWCP became one to hold, and perhaps even add to. It may be awhile before we see it at new all time highs, but at least now that vision has been restored to the company. Additional patent approvals and clinical trials will determine just how far it could go, or at what price it might be bought out for.
Gary
