Preach on Kizer! I sure as hell want to understand it also. $18 PPS was never even in trading hours. Apparently BoD believes that's how you treat investors that believed in your company and product. See ya!
Ive been in many reverse splits and this is first time i feel robbed. Normally if i have 1000 shares at .90 then from a 1:20 reverse split I should only have 50 shares at $18. Well at least the market should open at that price. If it goes down to $7 during that time then thats the market but in this case the stock never opened at 20X the closing days price.. Had something like this happen once back but shareholders were given a special dividend worth 1/2 the stock price which would be only way i can see this as being legal. They need to answer for what happened here as ive never seen a reverse split like this. Fortunetly i dont have much but feel sorry for all the large share holders.
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