I would agree that the average investor views a r/s as a negative event. But let's not overlook the total market cap of the company. That is where the value is. On 340mln shares o/s at .568, the market cap is only $193mln. Compare that with EXK which produces little more than USSIF, whose market cap is 1.02bln. At 5.2x USSIF, is EXK over-valued or is USSIF under-valued?
How low do you think the share price will fall after the r/s? At today's price the r/s sp would be $2.84. I think it goes to $5.00 within days of the r/s and AMEX listing. :-)
The ratio is five old shares for one new share. They can't go higher without going back to the shareholders for another approval. And, they can't go lower as they need $2--- min. to get listed on AMEX. Regards, DrBill
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