With that said pertaining to the FLOAT & OS, WHY DID the company split the stock 250:1 when they knew very well that they were attempting or planning an Up List.
Float now needs 75% more shares to meet the Up List criteria.
OS now needed a a massive 10m Share increase to meet a respectful Market Cap. Realistically placing $20m in the hands of Insiders down the road. $4 PPS for up list is equivalent to no less then $40m in the hands of Insiders...
Yes the only Holders unaffected by the Dreaded RS were in fact Insiders, as they were approved to Convert 10m Preferreds to meet the cap. Once again placing $20m in the hands of Insiders only, all be it down the road the up list value is no less then $40m.
Street buyers and supporters suffered the pain losing 250:1, watching their share count dwindle when in fact they could easily have 75% more based on ALL the new shares coming into the OS & FLOAT.
Street buyers were punished for supporting RXSF in all reality.
Could the company perhaps have offered a 1:5 or 1:10 Forward split, perhaps easing the pain of being decimated by the RS?
Could the company have entertained a Dividend to put more shares in the hands of the Shareholders as opposed to only filling Insiders pockets?
Obviously the RXSF management team knew where they were headed months in advance to announcing that RS. Perhaps it wasn't thought out properly, taking into consideration EVERYONE'S best interest.
All IMO!!
Happy Easter!
MY RANT 4 THE DAY.
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