Replies to post #45862 on Electronic Cigarettes International Group Ltd fka

[2times2]

Tesla and others....

Fidelity trading spec. said that CUSIP doesn't change and
short positions do not have to be covered before the RS as many posters claim

Where did you get that CRUCIAL info that ECIG R/S changes CUSIP and short pos. have to cover????
Tx

[niczar]

So for 20 days we will hold shares we can do nothing with? Not following. What if the pps skyrockets for whatever reason, we could not sell? ?

[Bernie-UK]

Shares are only locked up for 24-48 hours after an RS then there is usually a dumpfest as people get their stock released. If the company PR's through that it might be ok but they usually don't.

Best opportunity on this right now is post-RS. Anyone still buying / holding before that vote is crazy imho. The boom on this is over for now and may never come back unless there is great news on revenue coming. It's turned into a daytrade stock.

Friday was bad, I can't see why Monday wouldn't be worse. Then we'll see.

If no RS, maybe another run but with the dilution machine turned back on by the AS increase. If no AS increase either, could get real interesting because they clearly have debt issues and no money to clear them. I'm guessing a big run and then bankruptcy declared

[Danno_cal]

Whaaat???!!!

Shares locked and no trading for around 20 days? Might have to go into rehab to treat withdrawal symptoms.

Man, just when you thought this party couldn't get more real!

Anybody here been on that sabbatical before?

[Honeycomb777]

So Tesla - I just want to make sure I understand this point as its pretty crucial to me:

I understand that shorts must cover as a new CUSIP # must be issued - completely get it.

Two things I need clarification on is

1) How long after they announce the reverse ratio do shorts have to cover? And as a follow up - is it like "halted" so to speak during the 20 days ?

2) Could the company still release PRs and news during this timeframe ?

I guess what I'm getting at is won't PPS have to rise as shorts MUST cover. What am I missing here ? TIA

[phinhead1972]

This isn't 100% accurate. I have been involved in several reverse splits, and when a reverse date was announced, I was able to trade my shares with no restrictions, even to within a week of the reverse.
Shares were not locked.