Wave Sync Corp. (WAYS)

[matrix]

Only insiders can answer that question. Per the 8K, the BoD decided not to cancel post-split stock "in order to keep an orderly market." I already told you my guess, but I'll give you another one -- GREED!

When a company cancels stock, the market needs to place a value on the newly issued. Financials show before BK, they had ~$2.5M in assets and ~$1.8M in annual revenues. The o/s was ~12.1M, and the stock traded below .05. Today, it has -0- assets and -0- revenues. The o/s has more than doubled. So, the new stock would probably have been priced at least initially below pre-BK level.

However, you guys came along and ran up the price. Now, put yourself in their shoes. Would you want the market price to reset at sub-.05 or at a much higher level? By not canceling the old after the r/s (and assuming the price doesn't totally collapse prior), they'll accomplish the latter. The BK-issued stock, which would probably have been valued at less than $2M total on a reset, will be worth over $300M** post-split initially.


** using yesterday's close; the price can change prior to the 1-500 r/s