I wonder if GNVC had issued a positive sounding PR about gaining the six months extension, and reviewing all the programs it has that are ongoing and could enhance shareholders value, if such a negative article would have been issued.
We all know that all sorts of companies maintain Nasdaq listings with reverse splits. GNVC has done it once, I hope they never have to again, but such articles generally have short term influence on the share price and I suspect today's weakness is at least in part due to this article.
I for one certainly am happy the company pursued the additional time rather than taking the easy way out of doing a reverse split. Having been involved the last time they did a reverse split, while I've substantially averaged down, I still need a substantially higher price just to be break even.
I don't know what's behind the company's silence, but I suspect they may be in some sort of negotiations which preclude them saying anything that isn't required to satisfy SEC regulations. Most partnership discussions have confidentiality agreements where varying degrees of silence is required. It's impossible to say if something like this is in play, or if Swirsky just doesn't want to open himself up to public statements and perhaps Analyst's questions. We know they'll be appearing at a conference next month, I'm uncertain if it will be webcast.
Gary
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