Wang misfired. He decided on a 1/100 SPLIT when pps was around 0.04 hoping he could have gone straight to 4 bucks or higher at time of split. But now the pps is at 2.3.
It is at half of what he expected. Now he will have to do another split if his financials are not as everyone expects. Hope is a bitc* with this stock. But hope is hope.
- Common equity is the only class that is affected by the Reverse Split.
- Voting preferreds are convertible into 1.25 billion common shares after the R/S. Effectively diluting current outstanding equity to the power of 125 billion shares. That's not dilution, that's complete and utter annihilation of current outstanding equity.
- There are an unknown number of 10/15¢ warrants outstanding which made absolutely no financial sense pre-split, but will be a major cashout for their holders after the split. Logic infers that any "employees" (ahem) who purchased a warrant had prior knowledge an R/S was on the way.
News 
Market Data 
Discover 
