Replies to post #344700 on Elite Pharmaceuticals Inc (ELTP)

[namtae]

REALLY?? 100% WRONG!!!!

A/S does not change in a reverse but it does in a forward split

Authorized shares do not change in either circumstance lol

PERIOD!!!!!!!!!!!!!!!!!!!!!

[WeeZuhl]

Truncated quotes are a cheap trick.

Really?

Quote:
I will post FIVE examples of companies who reduced both outstanding and authorized shares during a reverse split. Very simple.


So, let's see them.

The statement I actually made still stands. I look forward to the responses.



https://investorshub.advfn.com/boards/read_msg.aspx?message_id=158521343

Challenge to all investors: for every ONE example posted to this board of a public CEO who does non-arm's length deals with his own private company, I will post FIVE examples of companies who reduced both outstanding and authorized shares during a reverse split. Very simple. Good luck.

Here's the freeby I already gave:

https://www.prnewswire.com/news-releases/chesapeake-energy-corporation-announces-1-for-200-reverse-stock-split-and-authorized-shares-reduction-301039669.html

OKLAHOMA CITY, April 13, 2020 /PRNewswire/ -- Chesapeake Energy Corporation (NYSE: CHK) (the "Company") today announced that, at a special meeting of shareholders of the Company held on April 13, 2020, its shareholders voted to approve: (i) a proposal authorizing the Board of Directors of the Company to effect a reverse stock split of the Company's issued and outstanding common stock at a ratio ranging from 1-for-50 (1:50) to 1-for-200 (1:200) and (ii) a proposal to reduce the total number of authorized shares of the Company's common stock as determined by a formula based on two-thirds of the reverse stock split ratio.

[ocbadger]

Thanks for the clarification! FACTS.