Traders need to put the sons 100 million share ownership in perspective. He acquired the 100 million shares to pay off $25,000 owed or .00025 a share. That money wasn't even his, it was his momma's and she assigned the rights to him. You are very likely right about a short term reverse split. This CEO is perfectly fine with debt being converted in the trips and has done it before. In fact the debt holders conversion price is already well into the trips. The issue is that it takes many, many more shares to tolerate that. In the end he will need to reverse split if he intends to execute on the plans that he has already communicated. The CEO's attitude toward debt conversions in the trips can best be summed up by his statement in the FAQ page released at the end of July. I also like the way they use the term "stock consolidation" rather than "reverse split". The two terms normally have different meaning when speaking about stock.
"On June 1, 2020, the Company issued 100,000,000 shares to Ethan Leon, the son of our CEO in settlement of $25,000 of advances made to the Company by Eileen Greene and assigned to Ethan Leon,"
The current Board and management does not support a stock consolidation. There are only two reasons the board would consider it. The first would be if the stock halts trading because it has reached 0.0001. The Company has already been through a situation where the stock hit .0001 and essentially stopped trading. The Company resisted doing a consolidation then and would resist doing it in the future if anything near to that happened. The Company does not foresee how that can happen now that it has a valuable asset in the treatment center and still has a well performing real estate asset in Canada. The second would be to up-list to an exchange that requires a minimum stock price. The Company could seek an up-listing at some point in the future but there would have to be some sort of financing tied to that. Neither of these situations are in the foreseeable future.
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