First, I just want to re-iterate what I've said before. I've been on this board for a couple years now but don't post daily although I read daily. So I'm not just on here to show negativity towards the stock, I've contributed in the past with various twitter posts, enthusiasm and questions here and there.
I believe my comment was pretty easy to understand. It sounds like they might be doing a reverse split on the stock 25/1 although it is not 100% as it hasn't happened and the stock is still frozen. If they do in fact do the reverse split, it will drive down the amount of shares available, thus increasing the price of the stock...but not necessarily the value of the stock as a whole (or so I think). ProElite or Stratus, whomever owns the stock will be in a position to drop some of their preferred shares on us and sell at that price (although they could wait until after up-listing the stock to anther symbol). They might not drop much but they certainly have the ability and have mentioned diluting in the past.
Why haven't they done this so far? Well...for one, the stock has been frozen for quite a while, two it wasn't ever worth it cause the price was so low. They shouldn't dump too much otherwise it would drive the cost down anyway...but that's just being logical.
The real point of my previous message you felt the need to criticize, is the reverse split sounds like it's going to suck all the shares we've got away from us. That's a very rational worry and could actually happen if they do carry out the reverse split.
Here are my questions for you then:
1. Not 100% if it will actually happen, but what benefits do you see from a reverse split? I personally have never been part of one, so my worries are only born from this situation.
2. Does a reverse split affect the preferred shares? I would think not since they are common shares and equal to a certain amount of commons...but again, this is all new to me.
This is a question that is driving me crazy and if anyone else has an answer, please chime in....
Why hasn't the SEC posted anything on the latest hearing? They posted on the last hearing but not the latest.
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