Why do companies call for reverse splits, one, either not be delisted from a major exchange or two, a penny stock uses it to satisfy requirements to legitimize its
standing within the financial community, obviously CYRX lands in the latter.
Most companies that I've witnessed perform reverse splits have lost at least 30% of their value within time afterwards. JDSU, SUN for example, both companies were desperate to remain on the Nasdaq.
Most companies fall into this category.
Lets look at our case. What do we have? We have nothing. No contracts, no financing,
no fully committed customers. We do $9,000 per quarter in sales. A split IN ITS CURRENT FORM would equal a death blow to CYRX and it's shareholders, the shorts would eat us alive.
The annual meeting is October, 9th. If CYRX can announce something in the way of financing, a contract with either a customer or a global shipper by the time we all vote, than YES should be checked off, because than we have a reason, a spark, a catalyst. I still think Mr. Stambaugh can pull a rabbit out of the hat before the vote. It should be exciting between now and the annual meeting.
I'm on the fence as I write this post.
GLTA
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