I don’t think a reverse split is possible. I’m not a securities attorney but my understanding is under the exchange act they can not push a reverse split until the company is brought current with the SEC. Additionally the company still doesn’t appear to be in good standing in both Delaware and California. California SOS status is still FTB FORFEITED. I verified prior to responding to your post. So as a result of their standing and until they cure their respective corporate deficiencies with DE & CA, Inventergy is extremely limited in what business they can legally transact. Pursuing a reverse split doesn’t appear to be permissible. I read, but again not a securities attorney, officers and directors could be found liable and guilty if caught operating the business in the current status, beyond the most basic of functions. Lastly the big Investor who has accumulated nearly 25%, while I obviously can’t speak for him, I sure would not vote for (if required) a reverse split. Plus he’s an officer at a successful public Company. He’s not an average retail penny flipper. I wouldn’t surprise me if retail shareholders owned over 51%. My gut feeling is the company is in a kind a self imposed stasis with the hope the big suit is settled, and then they can get the company right with the respective state and federal agencies. Again not accusing anyone of anything, just going of the publicly available information. As always just one investors opinion.
Hopefully the crew bidding up ADOM finds INVT because IMO this think is primed and ready to explode.
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