In my opinion the reverse split was merely a ploy for insiders to continue to pile up stock, but at 10 shares for what they'd pay for one. They already got away with that once with the previous 1 for 10 split. However I did the same thing so I can't complain too much about it. I expanded my CytoCore holding substantially after that split.
I'm not sure why the latest attempt was necessary since the market cap was so low anyway. At one point the market cap was only 500K. I could have covered that. LOL I'd have tried it except I knew that a steady stream of buys would have forced it up to more than I could cover by myself and the insiders would never have sold at that price anyway since that was also their game.
I had not read that the SEC already nixed the recent attempt, but it's good as stockholders to have that threat behind us.
And yes, if Medite isn't public (and my brokerage site can't find it either) then this deal allows them to go public without the usual lengthy preparation and expense normally associated with that. Since they are paying 20% of their company to be "bought" and assuming 80% of CytoCore's stock, that looks like a pretty strong indication that they intend and expect that stock to attain value.
I'd go so far as to guess that Medite wanted to go public the easy way, looked around for a likely target to "reverse acquire", and we CytoCore shareholders got lucky that they picked us.
I'm sure CytoCore's assets were attractive to competent marketing management. And other than inept sales ability, there is no reason for the collector product to not already be in every OBGYN treatment room in the USA and Europe. China should be a bonus and not the focus. Hopefully Medite can make a move in that direction.
I've been a stock holder since the old Molecular Diagnostics days so I'd very much appreciate that investment finally paying off. LOL
