Monday, August 01, 2022 8:44:34 PM
1. They don’t have any revenue, which is zero;
2. There was a reverse split R/S on Mar 22 1 for 20 making new o/s shares 3.4m from 68.4 m - good news shouldn’t be any RS anytime soon
3. AS increased to 500 millions - which is quite high
4. They have 10m convertible preferred shares (priced at 0.001) - 1 for 72 common shares- meaning 72m additional common shares are on the card depending on the situation
Thoughts:
Good: Because it had an RS recently and new o/s shares only 3.4m, any merger or business news can help stock price going up.
Bad: 10m convertible pref shares priced at only 0.001, so anytime convering them to 72m common shares can ruin the run and bring back the stock price down significantly.
Anyone wants to add anything good or bad? Thanks
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