They publicly said they were going to do an RS. I am averaged at $0.00046 now. I am in the hole at this point. I want the price to go up. You have no idea what you are talking about.
CEO Tad issued a "News" release on OTC back on 11/8/23 wherein he said a "1-for-100" reverse split was needed. A couple of months ago someone posted a screenshot of a conversation he had with Rick. When asked if there would be a R/S and Rick replied "of course."
So how exactly does quoting what management says become "devious, hurtful" or amount to spreading "fear, uncertainty and doubt"??? Those are THEIR words...not mine or anyone elses. Nor were they a secret.
Why the need for a R/S?
Since Tad took over trying to rehab this ticker he exploded the A/S from 500 million to 11 BILLION. And he blew up the O/S from 363 million to 8.2 BILLION (see page 2 of this last disclosure filed by the previous CEO before the SEC lowered the boom on him https://www.otcmarkets.com/otcapi/company/financial-report/203794/content ).
Tad apparently did that to limit the damage posed by multiple toxic "death spiral" convertible debt holders. Had he not done so those lenders could legally compel the company issue huge tranches of shares (usually just under 10% of the debt they're owed). As they dump these the stock price falls which allows the debt holder to demand even more shares in order to "true up" the remaining value of the debt they're still owed. As the cycle repeats each subsequent tranche is substantially larger. Once they blow thru the A/S they can legally compel the company to repeatedly increase the A/S until the debts are paid. Hence the name "death spiral."
Tad was lucky because regulators had recently begun cracking down on such predatory activity. Regardless, those parasites are now sitting on TONS of shares. I happen to agree with Tad and Rick in that a big R/S is needed as that is the only way to rid PLPL of most of them.
As I've said before.. a drop from .0003 to .0001 means you can only lose -66.66% right now. But a 1:100 R/S to .03 increases that potential loss to -99.67%.
If/ when It happens I suspect it will suck all the way around except for Rick. As far as "new shareholders" who bought believing this merger had been finalized and approved when it was not --and lost money as a result-- might want to question the statements made by Tad & Rick. Were their words misleading? Or did buyers jump to conclusions?
Sometimes "buying the rumor" bites one in the ass.
I am not part of any "group" and I think that an R/S is a positive thing for this ticker. Made the point multiple times that this is not the "old" OTC. Crap tickers and inflated SS structures dont have the pump support they used to have. The highest performing market now is NASDAQ, where we need to go ASAP. An R/S is part of the process to get there.
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