“Pending Corporate Actions
On June 9, 2022, the Company submitted an Issuer Company Related Action Notification to FINRA to effectuate a 1 for 500 reverse split of the Company’s common stock. This action is pending approval from FINRA. In the event the Reverse Stock Split is approved, the offering price and shares offered will be automatically adjusted at the same ratio, and we will file a supplement to this Offering Circular as may be required.”
The key word here is “Pending”; all penny stocks at some point anticipate a reverse split. Also, note that the price and size of the offering will be adjusted when and if executed. The one sentence I question is “This action is pending approval from FINRA.” FINRA does not approve reverse splits, they oversee the actions. The Board of a company approves a reverse split (Bishop). The company’s obligation is to notify FINRA of a reverse split so that they can oversee the on going processes.
The Offering shares are not being sold on the open market, they are being sold by the company and the company has the right to refuse any and all request for the purchase of the stock, they also do not have to sell at the price quoted in the offering they can sale shares for more of less than the offering price. If they wanted to sell at .00001 or 01 it is there sole discretion as stated in the offering.
"Also there was something that noted NNRX "outsources" all of the packaging/manufacturing, when clearly on PR's it stated differently!!!" I do not remember seeing that statement, but I would not expect that an area of only 30,000 sq ft to be able to do everything there are other companies that specialize in that and would be prudent for NNRX to do so.
"We saw August numbers through a PR, why is he silent when it comes to September numbers???" Reports on company finances are what the Q reports are for, he was just letting investors know thing were turning round, he has no obligation to give monthly reports on company finances.
“"The Plant" management (at least 2 people) gets $16k a month plus bonuses when certain numbers are met.” For the leading officers of a company this is not uncommon practice.
I also do not expect NNRX to be profitable, but not for the reason of payrolls. They are growing the company and have ongoing expenses and well as dept to pay off that go back as for as 2013’ before Bishop owned company and inherited I do expect to see Total Revenue to continue to out pace the Cost of Revenue as was done in the third quarter report. It will be quite awhile before Operating Income outpaces Operating Expenses. For a company to grow they must spend that just the reality of things. If any company makes an investor to have sleepless night they should think about selling it’s not worth risking your health over. I have seen nothing since it was announce that NNRX was contemplating parching "The Plant" that would give me a negative outlook. Past results of Bishop are up to everyone’s own interpolation, there’s a large learning curve with being a CEO/Owner of a company.
I am holding onto the positive outlook till the EOY report says otherwise. And I am expecting/dreaming NNRX to suceed and make me a lot of money
