With the HEME reverse split being cancelled...
If the HEME reverse split has been cancelled, then this will be huge. It was very unwise for them to announce a reverse split a while back as they now likely see by evidence of how horribly the stock reacted immediately after such announcement even up until now. All it did was straight drop which is the norm when stocks announce a reverse split. I'm surprised the management team here had no clue of what reaction to expect from such, especially when a reverse split is not needed here with HEME.
HEME already has a great share structure and trades very thin. The little liquidity that currently exists is actually needed. Reducing the liquidity even more by doing a reverse split is an unwise move by their management team. They brought in an acquisition and then killed the excitement by announcing a reverse split. It was like they had no clue what that would do for the stock. The good news is that things are very fixable which starts with them officially cancelling the reverse split. I'm hoping someone on their team sees this as you have hinted.
What one needs to understand is that 1 share at .10 per share is the same value as 10 shares at .01 per share. The company will still exist under the same exact Market Cap regardless, mathematically speaking. Also, unless you are immediately going to the NASDAQ or NYSE and need to meet their minimum share price requirement of $4.00 per share, a reverse split should never be done. Doing a reverse split simply spooks the market otherwise, especially the penny stock market. Just go look at how the hundreds of penny stocks traded that announced that they were doing a reverse split. Some never recovered. Announcing a reverse split showed their lack of experience and knowledge that their management team truly have about the penny stock market.
Canceling the reverse split is a must if they are serious about moving forward. The previous 52 week high was .0275 per share. If they cancel the reverse split and show that they have something significant with their operations, HEME could easily eclipse that previous 52 week high to create some new highs.
v/r
Sterling
