InvestorsHub Logo
Followers 16
Posts 1116
Boards Moderated 0
Alias Born 05/16/2007

Re: 56Chevy post# 488

Wednesday, 03/19/2014 1:46:43 PM

Wednesday, March 19, 2014 1:46:43 PM

Post# of 668
Again, the press release didn't say what the board's decision was, it just told us the result of the shareholder vote.

From the DEF14A:
"Although the Special Committee of our Board of Directors and our Board of Directors have approved the Reverse Stock Split, the Cash Payment and the subsequent deregistration of our Common Shares and suspension of our duty to file periodic reports and other information with the SEC, the Special Committee reserves the right to abandon, postpone or modify the foregoing at any time before they are consummated for any reason."

I personally think that they WILL choose to move forward with things (cost will be well within their $5mil budget to cash out shares), but it is very curious that it hasn't hit the daily list yet. Typically these things hit the daily list the same day as the special meeting, and if not that day, then the next day. We're going on day #4 now, and it didn't hit the early daily list for today.