Saturday, May 13, 2023 7:56:04 AM
This has disaster written all over it because the low float today is going to get worse when they do a reverse split to maintain their $1 stock price for Nasdaq.
Because of shareholder equity and a few other numbers that a company must meet to remain on nasdaq, TBLT may not be able to do a reverse split. I do not know all the details and specifics but the company may get delisted and trade on OTC within 180 days after they get notified by Nasdaq.
Nasdaq has minimum requirements, other than the $1 stock price, that all public companies must meet and adhere to.
I always thought Toughbuilt would be acquired but my theory has changed because TBLT CEO is not going to get anything from the sale because he only owns 2% of the company.
It would probably behoove him to keep the company and get his salary.
Since he will not be able to raise more capital as a OTC company I am guessing he will slow the revenue growth and get to a point that they will just have flat numbers but be able to pay salaries.
If he runs up the debt due to lack of financing options he can always run the company for as long as possible, file for bankruptcy and then maybe try to sell the company and as part of the deal he can get an employment contract with whomever acquires the company, but if that were to happen Michael would not be getting salary and bonus that add up to $1 million a year. He would take a major hair cut.
Recent TBLT News
- Toughbuilt Industries Announces Receipt of Nasdaq Delinquency Notice • GlobeNewswire Inc. • 04/25/2024 08:05:00 PM
- ToughBuilt Obtains Purchase Order Financing to Fuel Supply Chain and Growth Initiatives • GlobeNewswire Inc. • 04/02/2024 12:30:00 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/21/2024 09:38:52 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/20/2024 02:13:37 PM
- ToughBuilt Industries Announces Closing of $3.5 Million Public Offering • GlobeNewswire Inc. • 02/16/2024 09:05:00 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 02/16/2024 05:01:26 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 02/16/2024 04:58:58 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/14/2024 08:38:38 PM
- ToughBuilt Industries Announces Pricing of $3.5 Million Public Offering • GlobeNewswire Inc. • 02/14/2024 01:00:00 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 02/14/2024 05:15:16 AM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 01:14:34 AM
- ToughBuilt Anticipates Positive Operating Cash Flow by Q3 2024 • GlobeNewswire Inc. • 02/13/2024 01:00:00 PM
- Form S-1/A - General form for registration of securities under the Securities Act of 1933: [Amend] • Edgar (US Regulatory) • 02/09/2024 10:17:06 PM
- ToughBuilt Industries Accelerates Growth with Expanded StackTech® Ecosystem, Targeting $6.8 Billion Market • GlobeNewswire Inc. • 01/31/2024 09:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/29/2024 11:30:15 AM
- Form S-1/A - General form for registration of securities under the Securities Act of 1933: [Amend] • Edgar (US Regulatory) • 01/26/2024 09:09:17 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/17/2024 07:30:18 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/26/2023 10:00:28 PM
- ToughBuilt Industries, Inc. Announces Reverse Stock Split • GlobeNewswire Inc. • 12/26/2023 09:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/11/2023 09:53:32 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/20/2023 09:33:29 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/15/2023 10:18:43 PM
- ToughBuilt Industries Announces Third Quarter 2023 Results • GlobeNewswire Inc. • 11/14/2023 09:05:00 PM
- Toughbuilt Industries to Report Third Quarter 2023 Financial Results on November 14, 2023 • GlobeNewswire Inc. • 11/13/2023 01:30:00 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 10/30/2023 10:24:23 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM