Is there hope for this stock's price???
wu h, Yes there is. First and foremost, just getting listed on the NASDAQ or NYSE or being added to the S&P 500 would get a stock's price per share to double within 6 months to a year.
That is not our problem. A company on the NASDAQ must maintain a pps of $1.00 or more. If it closes below $1.00 for 30 calendar days, it will be given 180 day notice to get its closing price at or above $1.00 for 20 consecutive closing days. I am sure that the NYSE has similar restictions on the pps of NYSE listed stocks. Even with a 100:1 reverse split there is little chance of becoming listed as a STOCK SHARE offering on these large entities. 100:1 would make our new shares worth a nickel when the real value of our present shares should be 17.5 cents and new 100:1 shares should be $17.50.
Will we ever get the 400:1 value out of our present shares. I can not predict this. However, I can predict the overthrow of the present management and anything that is installed to pacify us. Their downright lack of communications with the stockholders has caused this low pps, and I believe that they believe that by changing names and corporate officers and adding a reverse split, will make us forget that the value of our stock should be about 400 times greater....no matter if it is EAGM or Cayanne Resources. Then they can claim that "that was caused by the previous company".
I am presently working on another direction. I am trying to contact NASDAQ and the NYSE, to explain the problem we are having with the present management, and see if that makes a difference. No company likes it when stockholders complain to the exchange that sells their stock or will sell their pink sheets. I do believe I qualify as a stock holder, and they have no problem with NOT answering my requests for information and I only own 17.1 million shares. I do believe management and I will soon be doing battle.
This company's management would do better, if it started mining gold and/or if they released some updated progress and PR reports. This would bring the price per share closer to the value per share. Do not lose hope, whatever management is up to the stock holders in the float have a vote unless the restricted share holders which outnunber us all voted for this Cayanne deal. I personally have not decided when I am going to Bogata, but I feel it may be this summer.
Hang in there, we're all in the same boat. SAM.
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