$PCLI - Knudson tried to move his XTRA Bitcoin into another shell with approx 230mil O/S and proposed a 1 for 100 reverse.
His reasoning was that he wanted to raise a Reg A Tier 2 round of funding. Tier 2 is $25m to $50 Mil.
In almost every conversation he's had with current shareholder (as told) he's been clear, a reverse split is coming.
I've yet to see a logical explanation as to why that has changed. I've never met an investor, when being asked to put up in excess of $1mil, who would want to put up money into a company with the existing share structure.
And I'm not negative on the stock, I've still been buying it on the way back, including earlier this week and still believe shareholders will do well.
After all, some entity spent $500k to clear out the teens and lower .002's and the way it was traded had the earmarks of professional trader(s) - GLTA
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