Bit Brother Ltd (BETSF)

[LJ-Bodhi]

Public Report confirms reverse split was agreed to as part of this offering:

https://www.benzinga.com/markets/cryptocurrency/23/12/36100019/why-crypto-related-stock-bit-brother-is-down-50-today

Bit Brother announced a deal to sell $12.0 million worth of shares and warrants.
To avoid share price drops below $0.01 for five consecutive days, a reverse split was also agreed upon.

To avoid share price drops below $0.01 for five consecutive days, a reverse split was agreed upon. The company estimates $12.0 million in gross proceeds pre-deduction of fees and expenses. The offering's closure is expected around December 8, pending customary conditions, with Maxim Group LLC acting as the sole placement agent.

According to data from Benzinga Pro, Bit Brother has a 52-week high of $0.66 and a 52-week low of $0.021.

The company previously had a 1 for 15 reverse split this time last year:

"On December 15, 2022, the Company effected a 1 for 15 reverse split of its Class A ordinary shares. Upon the effectiveness of the reverse share split, the shareholders of the Company received one new Class A ordinary share of the Company for every fifteen shares the held. Any fractional shares that resulted because of the reverse share split were rounded up to the nearest whole share."

It's in their recent prospectus, along with the fact that the company sells specialty tea and announced in 2021 that it was exploring bitcoin mining operations. Nothing has come of that bitcoin mining to date, and anything can happen. Be wary of internet strangers promising riches and amazing things on the horizon. Reading financials is better:

https://www.sec.gov/Archives/edgar/data/1543268/000121390023057937/ea181956-424b5_bitbrother.htm

Good Luck out there!!