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Monday, June 03, 2013 4:19:43 PM
Probably an effort to boost the price to over $1 to allow Iroquois to convert its remaining debt to shares and sell them without having to push for an increase in the Authorized Shares.
If I'm right, the company won't immediately BK, but the price will likely fall quite rapidly as Iroquois and Hudson convert and sell, and past history suggests that it will fall from $1 to sub-$0.25 within two weeks of the reverse (see March, 2012, the last time COIN did a reverse).
Twenty five cents (post reverse) equals a pre-reverse price of $0.0005.
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