Here are a couple posts on that topic from a while back. I still stand by what is said in those posts. The timing needs to be right and a Company MUST have the goods. In the near term(6 months) as our OS# creeps toward the authorized I see it as a reality and believe it to be in our best interest,jmo.
March 2010 ( I copied it and pasted again with working links) I normally try and post as much factual info as possible on any and all topics, this one will be OPINION based only so take it for what it is worth, please.
I will start by saying that the years I have been in ACTC I have ALWAYS considered the reverse split issue a waste of time and believed it would never accomplish anything. For those new here, ACT did approve a RS and later cancelled. These two links will show the details and reasons I didn't support it.
To this day, I have no clue why ACT even approved it or what they hoped to accomplish. Water under the bridge, it's history.
Do I think differently now? YES If ACT wants to be considered a player in the Biotech industry and MATCH their accomplishments then the corporate structure needs to change to be in line pps wise and OS# wise to attract institutional investors. The "trading mindset" will not change when tens and hundreds of million shares keep popping up.
I have always said for a reverse split to be effective the Company MUST have the goods(accomplishments) to go with it combined with the timing issue.
What accomplishments?(to name a few) 1)If cell lines are approved by NIH 2)If FDA lifts clinical hold 3)Treatment in humans starts 3rd quarter or so 4)Phase 1 and 2 go well 5)Phase 3 has EXPECTED results in humans
If ACT accomplishes these step by step, it makes the reverse a workable option, imo. To time the reverse in such a way that ACT is positioned for #5 above with the AMD IND closely following it would provide a possible scenario to make ACT look like the big boys on paper(filings), constant news and results to sustain or increase the pps and possibly make the move to another exchange at a much higher pps where institutions would be much more likely to buy open market shares for long term investments.
I do not see this scenario happening near term but I suspect it will be considered by management when we "accomplish" a few more items. If done correctly it has the potential to benefit the Company and the shareholders provided we move forward as stated above.
The other option is to have 1-1.75 billion shares out there and keep asking for more authorization from shareholders as needed. I am not convinced we can grow into that amount of shares or how market friendly that scenario is, it could work but I am skeptical of it.. Some have sent mail saying "MSFT has 9 Billion shares, so what's the problem?" Well, MSFT had umpteen forward splits that put their OS# where it is, much different than constant dilution..that comparison holds absolutely no water...lol
Yes, a Company buyback is possible but it would take a ton of cash to be done right. I just don't see that as viable at this time.
Conclusion: With the position ACT is POTENTIALLY in I view the reverse split as a viable option to clean up the corporate side of things and be much better positioned to take advantage and prosper from the perks that come with success. I don't believe an ACT suitor will be involved until the technology is proven and advanced. If I am wrong on that, then the reverse isn't worth discussing. Once again, these are just my opinions but I feel the current and upcoming situation warrants the possibility and those are the reasons I am even discussing it. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47339667
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