I would have no problems with a 1:70 if the issue of warrants weren't so significant (and unclear), and we didn't have one more RS looming. We don't generally see massive RS's of the jumbo magnitude, unless it's combined in a reverse merger coming out of a shell, so this is out of the ordinary for an established company.
According to the latest Definitive proxy table, with the 10,000-20,000 split (not counting the 1:70 split) there would've been 5.6mil - 2.8mil shares respectively in warrants outstanding, in comparison to 9,400 - 4,600 shares of common stock outstanding...that's insane! The jumbo RS is scheduled for a vote in 9 trading days, and I'm pretty sure unless they win the lottery or perform a miracle, they're more than likely going for it. So, whatever gains I would be looking to lock in, I'd be doing so within this time frame, since 20% of warrants being converted is not as bad as 100%, and because later I'd likely either get crushed by the 10k/20k split, or the 100% warrant conversions.
I'd revisit in a few months, after the mayhem has subsided, and after the warrants have nearly all converted, and there's positive news on the horizon...maybe uplisting back to Nasdaq, then I can take advantage of the forward momo, but unfortunately currently there's overwhelming negative pressure that would foreshadow any sort of positives, like financial factors or anything else.
JMO-GLTY
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