Relief Therapeutics Holding AG (RLFTF)

[PennyWorld]

ADR Level 2 - WIP. The next leg up.
https://finance.yahoo.com/news/relief-therapeutics-files-registration-statement-062000214.html

This is really not good IMO. I do NOT see RAM dropping the ratio to 1 for 50 or 1 for 25 when they move to Level 3. RAM is still touting 150 in today's PR.

A 1 for 150 conversion is equivalent to a 1 for 150 R/S. If this should occur (even with uplisting to the NASDAQ), I simply do not see the PPS ever making it's way back to .50 (Pre ADR conversion) levels. It will be very lucky to recover to the .25 levels we had in July 2021, let alone the .50 levels we had in Feb 2021.

Without major positive news on the EUA front, or a major new revenue deal on the RLFTF front, the 1 for 150 r/s (yes, if it quacks like a duck) will be devastating. If RAM and Dr JJ settle out of court in January (prior to ADR Conversion), that may give the pps a small boost. Let's hope.

My question is.... HOW is GEM being protected from the 1 for 150 ADR conversion. Are they receiving preferential treatment? If so, is that legal? GEM would never stand by and let this happen without making a major fuss@!!

Here is some math to ponder on (assuming a 'today' price of .06):

A 100K SH investment at .50 = 50K
Post ADR conversion, the .06 SP increases to $9 and position < to 667 SH
The SP would need to > from $9 to $75 on the NASDAQ to JUST break even on the original investment.

A 100K SH investment at .25 = 25K
Post ADR conversion, the .06 SP increases to $9 and position < to 667 SH
The SP would need to > from $9 to $37.50 on the NASDAQ to JUST break even on the original investment.

Who really thinks $37.5 or $75 will happen soon after ADR conversion? We know that RAM will start diluting once on the NADAQ at $9, hence putting downward pressure on the $9! Do we really think the new NASDAQ 'buying' pressure (institutional demand) will drive the PPS up to 37.50 or 75 (to the 'break even' point) while offsetting RAMs new dilution efforts at $9!

Counter opinions are very welcome! Please show us a silver lining.