Peasodos, I think overall the reverse split is a good thing in this case. It tightens the trading float to probably 2 mil or so. That makes it more difficult to be manipulated. Another positive is many penny reverse splits do not reduce the authorized as they reduced in this case. Good sign for little or no dilution IMO. Just buying assets.
"In addition, the Company decreased the number of authorized shares of its common stock from 450,000,000 shares to 100,000,000 shares."
If all the deals in the works fall into place, I see about a $75 mil revenue company. Assuming profits of maybe $10 mil as a conservative guesstimate, the share price should adjust.
$10 mil net/approx. 7.3 mil os = $1.38 EPS x 10 PE = $13.80 Share Price.
Many small penny players can no longer afford to play this IMO so it opens the door up to a whole new group of investors that look for $s.
It looks good to me. I'm still not in as I'm still waiting for a couple of plays to come in for me. I plan to jump in though as soon as I can.
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