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Sunday, November 21, 2021 8:11:24 AM
Agreed about that ridiculous 10,000 number, EAGLE. There is no conceivable way that they would need to do a 1 for 10,000. Either that is a boiler plate notice to cover their bases or a lazy attorney that could have easily change the number to much lower one.
IMHO, the only reason they put out that notice is for a filing to NASDAQ or NYSE SM. They have plenty of room at the current prices to raise capital (current shares outstanding vs. authorized), so the only reason, imo, is for the company to get the required higher stock price to get to a higher exchange. If they are smart, they will only move to do that with real capital coming in requiring an uplisting AND not at the current prices.
They would be stupid to do a rs at these prices--and it will require some news or development to change this trend. But buying in down here, imo short term opinion, will look smart by January when tax loss selling is over and the company has updated shareholders including the timing of the delayed IND filing.
I would not mind getting on NASDAQ with a partner and/or capital. Just would like to see a modest 1 for 10 split or even better to get there.
FWIW
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