Please, point me to a Reverse Split that ended up being good for shareholders!! Evidently you do not read well. In their report, the company stated that they were denied a loan by the SBA because they had shareholders that were listed as OBOs rather than NOBOs. Their solution was to Reverse Split the stock. But, a reverse split does not turn an OBO stock holder into a NOBO stock holder. Nor does it eliminate the stock holder.
Consequently, if the SBA's problem is that the company has stock holders, some/many of whom are OBOs, how does a Reverse Split help the situation when the company will still have stock holders and some/many of them are still OBOs?
MY interest here is two fold (Check my history) I have always, 100% always, spoken for the shareholder. Particularly when it comes to scams, which proliferate the OTC, and Reverse Splits. In 20+ years I have never, not once, misidentified a stock as a scam. In 20+ years I have never seen a Reverse Split work to the advantage of the shareholder ... and I have seen 100s.
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