Unlikely action soon on split or no split. The Board has a very wide time window to decide on a course of action or no action. The Board cannot act before 1/31/17, and it is unlikely any action would occur in the immediate future. At ANY time after that date they can open a 12 month window to act on a reverse stock split, state there will be no such action or allow the 12 month window to expire. Any action could be months or years in the future, or may NEVER occur.
The Board likely wants to do what is best for ALL shareholders, including themselves. It would be prudent for the Board to see how the share price reacts in anticipation of and after the next one to three quarterly earnings announcements before opening the 12 month window allowed in the corporate actions adopted by the Board.
The world is on notice that given anemic or continued pessimistic movement of the share price they 'could' take action to raise the share price to a more efficient and reasonable level. It is NOT a firm decision of the Board but is an option they have put in place. Even if a reverse split is adopted the value of a shareholders investment stays the SAME. Just the number of shares they own will change.
The shares of MYDX look to be very oversold at current levels and should move higher in anticipation of the upcoming earnings report, and future quarterly earnings reports beyond that. A purchase of additional shares at this level by existing shareholders would significantly lower their break even point and would increase the chances for a profit on their MYDX shares.
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