Then why mention dilution in the press release-That sentence wasn't necessary. Your theory seems flawed. tHe would benefit more from a higher share price.
I also agree that ICLDD will not see BK anytime soon. This is a legitimate company.
The flipside to this is that they want share control to manage pps and speculate on upward movement in the near-term. This kind of lock-up looks attractive to a hedge fund and props.
They may have special voting rights, but any kind of RS or increase to AS will put them further from recovering what they were originally owed. Double edged sword imo
In addition, they can't sell shares anytime - they are Form 4 filers and are subject to blackout periods throughout the year. They would also need approval to sell shares via proxy.
The reverse split has NO affect on shareholder equity or market cap. It is what happened AFTER the split that caused this problem. With an open OS, notes that had matured with a previously locked up OS were able to convert. It is that conversion that caused the problem, and while the OS was locked up, ICLD was in an illegal situation.
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