That is a rock-solid point. The S E C is simply not going to allow it - in my opinion. Preposterous !!!
""Why would a company not be able to reach back in the past and reward some stockholders and not others? """"
Except I believe you mean -- Why would a company be able to reach back in the past and reward some stockholders and not others? That is grossly unfair and we all know it.
Why would anyone want to advertise an upcomming distro so a bunch of flippers could run in and buy just to get the free shares and then dump the next day. Am I missiing something here.