Thursday, June 11, 2020 5:37:20 PM
I don't understand the "we all had dreams of big money" thing. Let's say you had a million shares at .005 per share, half a cent. That's 1mm times .005 = $5,000, not exactly a big stake as stock investments go. The 'dream" is that for whatever reason - because the individual shares are "cheap?" - the shares would jump to ten cents or a dollar, which would be 20X or 200X the initial half-cent share price.
OK, so now there's a 1000:1 reverse split. Your million shares at .005pps are now 1000 shares at $5 per share. Same $5000 value as before, same percentage of shares outstanding, which also shrunk 1000:1. If you expected the 20-200X jump before, why is it suddenly unrealistic now - because a jump to $100 or $1000/share is obviously ridiculous? The dollars involved are the same.
If you agree with the math, then I guess the "dreams" were of taking advantage of a momo-driven, irrationally-exhuberant crowd of fools spiking the price, like many manipulated pink-sheet flashes in the pan? Mike, for all his hyperventilating truth-stretching ("look! The price has jumped from sub-penny to dollars!") has been touting what he thinks will be a real company with real profits. IF that comes to pass, those multiples are no less likely now than before.
OK, so now there's a 1000:1 reverse split. Your million shares at .005pps are now 1000 shares at $5 per share. Same $5000 value as before, same percentage of shares outstanding, which also shrunk 1000:1. If you expected the 20-200X jump before, why is it suddenly unrealistic now - because a jump to $100 or $1000/share is obviously ridiculous? The dollars involved are the same.
If you agree with the math, then I guess the "dreams" were of taking advantage of a momo-driven, irrationally-exhuberant crowd of fools spiking the price, like many manipulated pink-sheet flashes in the pan? Mike, for all his hyperventilating truth-stretching ("look! The price has jumped from sub-penny to dollars!") has been touting what he thinks will be a real company with real profits. IF that comes to pass, those multiples are no less likely now than before.
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