Clancy, I put that exact question out to JB for any type of response. Basically pleaded.. His response :
Tjak, Just thought I would let you know that I have checked out the Medify acquisition.
For those that will undoubtedly ask, it is for real, it is a stock purchase and there are absolutely no plans for a reverse split.
The reason for this is that the company is using the Medify Pink Sheet status as a fast track to Junior NASDAQ which means that to satisfy the rules, the emergent company needs to have a market cap in excess of $300m. It is anticipated that the pps after the announcement and revenue projections are made public will settle 2 to 3 weeks after the launch at around $5 which will satisfy the market cap requirement. Then it is only a matter of holding the pps high enough, I believe 30 days, then the company will be on for a move out of the pinks. Quite a subtle plan, sensible and very effective and will immediately address the issues the company has faced on the pinks.
What is interesting is that the acquired company operates in a market that is worth $57bn annually in the US and there are only 9 other companies of the like floated. The average pps for these companies is $8. So if they plan on the pps settling after the initial euphoria at around $5, we should expect in the initial rush next week to put the pps at a much higher price to begin with.
So I wish you well and hopefully Medify will now have the steam to progress without 504’sss, borrowing or additional investment.
AI
