What this company and management is doing is criminal. They don't have to delist from the OTC but they're choosing to do so. They have until the end of December to get the share price over .01 and are choosing not to wait. All they had to do was a 2 to 1 reverse stock split to meet the requirement. They're doing a 2,000 to 1 reverse stock split. The price of .0023 per share they talked about in the filing was for any leftover shares you held under 2,000. They weren't giving partial shares. There were over 600 shareholders just this summer. According to their last filing they will now be under 300. How is that possible. Were there 300 shareholders with less than 2,000 shares? Something doesn't seem right. Somehow being under 300 it allows the company to terminate the registration of its common stock and suspend its reporting obligations. That's why they're doing a 2,000 to 1 split. It must be their magic number. The management has kept us in the dark for the last 3 years but at least we've had the filings to gain some info. Now we'll be totally in the dark. How many times has the management responded to any of your emails. I know I've emailed them multiple times and not once have they responded.
The fact that the company is choosing to be delisted during a period of time in which they have announce the sale of the company should be terms for a shareholder lawsuit on its own. I believe this is what the insiders wanted. If they orchestrated the price to fall to get the number of shareholders down below 300 that's criminal. If they can do that to the smaller shareholder, what confidence do you have they will treat the rest of us fairly when they sell the company. After going private they'll probably structure some deal to benefit the insiders only.
It doesn't matter if we think their patents are worth something and the company will sell eventually. I believe a shareholder lawsuit should be looked into. before it's too late. Like it's been said, after they go private how will any of the shareholders be able to communicate.
