Yeah it sucks. The only thing I can think of is that the market anticipated this a while ago so it's not really as huge of news as we would think. Or else they were expecting additional info in the PR relating to an uplist. All it talked about was becoming SEC-compliant.
What negatives could come out of this? I've never been invested in a stock that was in the process of becoming audited. I can't really think of any reason that the financials would get any better, I would think the rist is towards the downside. What are the chances they think Virtra overstated assets or understated liabilities, or had some other kind of accounting error?
Yes. Virtra needs a lot more shareholders than it has, and also needs a lot more exposure in the investment community as a whole. Getting audited is one step closer to that goal.
I'm thinking they also need to plan on a reverse split so the price can show up on more investment radars. Pink sheet is all but invisible at 9 cents a share. What I don't know is its visibility at a dollar or more. It may just be we wait for an uplist before we get more eyeballs.
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