More Info on Reverse Splits
Those who are experienced with them, approach them with a great deal of caution. For example CBAI (which trades on the Bulletin
Board) has recently announced a Reverse Split. The Pres of CBAI
just released a video in which he glowingly talks about how this
will lay the groundwork for getting Wall Street to take notice of
and invest in what he expects to be a Big Board Stock. On the flip side, he acknowledges that in order to do this, it will be
necessary to burn the little guys who have been holding the stock,
and sticking with his company through it's early, difficult years.
See also: discussion about this on the CBAI message boards.
In general, a Reverse Split may make sense if a company
is already at least fairly profitable. To determine this,
you need to look at the Income Statements and Balance Sheets
and only at the Income Statements and Balance Sheets.
Shareholder approval of a RS is a very important decision.
This board provides you with an opportunity to hash it out.
Whatever decision you make, let it be an informed one.
Disclaimer: As a new investor in BGNN, I have not decided whether
to vote for or against the Reverse Split and will be doing the
above due diligence...but I have been through plenty of Reverse
Splits and some of them have been pretty rough.
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