InvestorsHub Logo

today32

03/16/20 1:13 PM

#196 RE: Investorr #195

From the DEF 14C Filing:
"On the Effective Date of the Reverse Stock Split, the number of stockholders will remain unchanged because those stockholders who would otherwise receive only be entitled to receive a fractional share will receive a number of shares rounded up to the third whole integer in such a manner that every stockholder shall own at least 100 shares as a result of the Reverse Stock Split."
https://www.sec.gov/Archives/edgar/data/66600/000147793219006884/mmmm_def14c.htm

They reneged on this and now are rounding up to the next whole share. The Transfer Agent won't take any phone calls because they know what they are doing is illegal, but nobody can do anything about it unless DTC/your brokerage takes a stand and demands that they honor the filing.

Call your broker and ask for the Corporate Actions department if you want to complain. Try calling the TA too (Pacific Stock Transfer, 800-785-7782), maybe you'll have more luck than I did.