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Sunday, May 17, 2020 9:45:15 AM
I believe a reverse split is a clear possibility. Too many shares out there and an extremely high market cap compared to peers.
Well that's one way to bring down the market cap.
No near term catalysts to move it.
By near term you must mean tomorrow, certainly you don't mean within a month or two.
Plus by getting it over $5.00 they invite some serious institutional investors in which otherwise wouldn't be.
An R/S alone would not put it on Nasdaq or NYSE, so much for the institutional investors.
I'm not sure whether near term financing is needed. If memory serves, didn't this company register 46 mil shares to be sold at $3.01/sh. That would raise over $120million.
Registering shares itself makes the company no money. However some of those shares were warrants and options that were converted. The conversion brings in some money.
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