Looks like it has to be approved by share holders.That could take quite a while.1/200 R/S would make it about $3.40 after split at todays closing price.I dont know if investors will approve it.Even if they do there is still a lot the company has going for them.Their permits are all in place & one thing I like about this operation is it is an above ground operation.Thats a huge plus.
I think reverse stock split should be deemed dreamkiller. In Faber's interview he just mentioned splitting at some point to ensure shareholder value. He did not say reverse split. I thought he might have meant that the intention was to do a basic normal split maybe 2:1 or something like that and that the potential of the product they sit on would be what would bring the shareprice up taking the company to the big boy boards, creating some wealth in the process. He also threw in there he could see it hitting a buck? 200/1?? reverse. Is that how he's gonna reach the buck? Could someone explain to me how this benefits a shareholder? I have never had this happen to a stock I own. So I know very little. I thought it a reality that this stock would someday get to a couple of dollars by major investors and company profit not by killing the potential gain of a loyal investor by knocking out a rediculous amount of shares that they own to pretend to get to a real market price.....ugg someone talk me off the building here I'm ticked.
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