Arch Therapeutics Inc (ARTH)

[Snowy_Owl]

Arch Therapeutics has been pretty much over for me for awhile now. Recent actions have eliminated any remaining doubts I may have had.

ARTH dropped 31% on Thursday 9/7/23 after a series of SEC filings. On September 1 they filed a Form 14C informing us that certain actions were taken by the written consent of the holders of a majority of the outstanding voting stock in lieu of a meeting. They increased the number of authorized shares of stock from 12,000,000 to 350,000,000 shares. Then said the Board can approve another reverse split between 1-for-1.5 and 1-for-20.

On September 6 they filed an 8-K to amend the convertible notes to extend the date of the required up list to NASDAQ from August 31 to September 30. That means another reverse split is imminent because they need a stock price over $4 to up list.

In the future, anytime I get a whiff of a stock contemplating a reverse split I am selling what I own, walking away, and never looking back.