CLST Holdings Inc (CLHI)

[Renegades17]

Finra doesn't approve reverse splits



Finra processes the R/S, but that's it. It's shareholders that approve reverse splits. Because Stephenson had voting control, he could unilaterally approve it.

I like Ben Berry, and there probably wasn't much he could do, but it would have been better if he had explored this issue and included it in the proxy vote. In my mind, it's inconceivable that the company didn't have a plan in place that included the R/S prior to the vote. They're being dishonest to suggest otherwise.

That said, stock can work post RS but it's hard to know the upside. Let's hope it overshoots on a PR pump so everyone that's been here for a while can recover losses and turn a profit.

Could have been so much more, but that's our predicament IMO.