Comes with a secondary offering too. Nice cash infusion on a profitable company. That would be at a proposed $5, and now that's a discounted price if the reverse split were to happen today. Which is great for anyone that gets in on that deal. Most secondary offerings are at a discount to price, in fact.
So, was that 1 for 30 set in stone, Hweb? Or is it subject to change based on a trailing avg. price of some sort when/if they are approved for Nasdaq.
Nasdaq does unlock a lot of restricted hands too. These days, many retail traders can't even buy this stock if they have Merrill. And I think Etrade. I have Etrade, but I'm grandfathered into the Wild West rules of the '90s. I have no restrictions. But new accounts I think are highly restricted.
The bottom line is that the warrants are anti-dilutive at today's price and a p/s of 1 would be $30 per share (post 1 for 30 split) which is great value I think. But that's just how I see it.
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