BRSE performed a RS for the common sense reasons i stated.
Was it a scumbag move by Christopher after he promised to NOT reverse split the shares until BRSE had acquired a revenue-producing business and was stable enough to perform a reverse stock split in the future. As it was stated to me by Chris , "we cant be a .000x stock forever". He meant that at some point in the company's future, once business stabilized and they were able to align themselves with a business that was producing stable revenues, that a reverse split would be an option to raise the share price up and attract more substantial investor types.
Now getting back to what I had stated earlier and what I've been trying to State concerning this stock as well as several others I've been watching. Whenever a stock reaches a zero bid status and there are still existing CD note holders that need to monetize or a company needs to issue further debt-for-equity by way of CD notes, a reverse stock split is necessary. Following a reverse stock split, the company's outstanding share count is obviously super low and the company typically will begin to issue more shares from the authorized share count into the outstanding share count and as long as the stock maintains some type of bid. Regardless of the price point, conversions can take place. It does not matter to the company or to the note holders as to what the stock's share price is. It's just a simple mathematical equation that enables CD note holders to be able to monetize. There are market-makers that specialize in seeking out debt-laden companies with shady CEO's, poor businesz models and conversions that need to monetize. These market makers naked short the shares well in advance of a reverse stock split. Basically they are tipped off that a company is about to perform a reverse and they immediately short sell the stock. The stock, as you all witnessed in horror will open at or near the split adjusted price and then settle down to single digit penny status and below, enabling these short sellers to cover at any level they wish to the downside. It's called "celler boxing" and it's been something I've been witnessing over the past couple of months with a lot of stocks. This one is no different.
BRSE played most everyone like a fiddle , stringing shareholders along with enticing stories of movies, Acquisitions of multimillion-dollar a year revenue-generating businesses, African Ventures with gold and diamonds and solar panels lions and tigers and bears, oh my!!
I fell for it too.
I truly believed in Christopher. He and I had good repore and he seemed to be a man with great vision and the background to make something wonderful happened. But from the standpoint of the underlying equity, he single-handedly destroyed this company and any ability for its prior shareholders to recover their losses. Every single person that bought this stock from a year ago has lost essentially all of their money here. I once considered this a fantastic investment for the long term, but when that African news came out, that was the straw that broke this camel's back.
From this day forward, there isn't a human being alive thats going to believe in this gentleman's vision ever again.
He has proven to be the equivalent of Robert Atwell afterall.
It's quite sickening.
The shares will undoubtedly be Trading beneath a penny and volume should start to increase as investors realize that all hope is lost.
You guys need to understand something. The outstanding share count is so low right now, it's not even funny. It can't/wont stay that low. The company is obviously going to be issuing shares for conversion because they absolutely have no revenue stream right now and need to raise as much capital as possible. It wouldn't surprise me to see the stock trading back down into the trips within a month or two, or perhaps even sooner depending on how fast investors realize what the hell is really happening here
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