When a company does a significant reverse split, it usually means that it is attempting to make it's unissued treasury shares more valuable (the number of authorized but unissued shares don't change in number, just those that are outstanding, therefore the unissued shares are now automatically regarded as being worth their original amount X the reverse split, thus making them 100 times higher in value automatically while retaining the same aggregate number of authorized but unissued shares that exist internally.
Companies will do this to increase either share value prior to a secondary offering or to position the Company for re-organization and then re-characterization into another entity unrelated to the original.
The change in name pretty much tells the tale, as it appears that BLVI simply is no longer a public company and that the Company is now in another business. It's disgusting to me to see a company do this to it's shareholders without some kind of explanation, I believe it to be grossly unfair, but it's not illegal, particularly for a non-reporting pink sheet company like Black Art.
As old shareholders of BLVI. you now have less shares, hypothetically worth more money, in a new "surprise!" company.
It's impossible to project which way the stock will go. A word to the wise would be to convert BLVI shares through the transfer agent into the new ones as quickly as possible to maintain maximum flexibility and liquidity.
As reversed shareholders, your position may be a tenuous one or it may be just the opposite, only time will tell. Pray for VOXI....!
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