I understand 100% what your saying. I'm not disputing it at all, I'm actually trying to agree with you here. Yes, the "executed" R/S would be extremely devastating long term. Yes the PPS spikes b/c the O/S decreases and the A/S stays the same...until they dilute the O/S back up, which takes the price back down, as well as our positions. We get split and the company doesn't. Great for them, sh!tty for us.
I was strictly speaking to the pps now, with the news of the R/S. Whether or not it actually gets approved and/or gets executed is irrelevant to the pps "now" because the market is already expecting a R/S or at least the possibility of a R/S and has factored it into the ever depreciating pps. If it doesn't happen, the pps won't return to $1.20+. I for one have lost quite a bit on this one and I am toying with cutting my losses or letting it ride to see if I can catch a run or possibly a complete buyout (which would be fantastic) before the R/S. Either way I will be voting NO for R/S
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