Replies to post #30594 on Intelligent Highway Solutions, Inc. (fka IHSI)

[Toxic Avenger]

The stock is not going to $.002 without a reverse split.
The 30 cent convert holders will never get to convert. If they reverse split, the 30 cents goes higher by they split ratio.

They will certainly reverse split at some point. The reason is that eventually people will stop buying at $.0001. Only the toxic note holders can buy lower. They may raise the A/S if they can keep getting buyers for the toxic shares, but eventually they'll have to reverse split and start a new pump and dump and hope they can get buyers in with the price above $.0001. They need a lot of cash and the toxics aren't lending more until they see there are buyers for their shares.

[Burn Notice88]

Correct, "the company [isn't] wasting money for nothing." Auditing financials is not cheap. Why else would management audit the financials if not VERY serious about moving the company forward. At the very least, it costs $10's of thousands of dollars to audit a public company's financial records. Many spend $100's of thousands per year in audit fees.

Section 404 requires a publicly-held company's auditor to attest to, and report on, management's assessment of its internal controls and procedures for financial reporting. In the private sector, companies surveyed paid an average of $254,740 in total audit fees in 2014, up 2.7% over the prior year.Oct 9, 2015

ww2.cfo.com/auditing/2015/10/audit-fees-public-companies-3-4/