Your new mmtc position in quantity will be reduced to 1000 shares. At .0029 invested, your position dollar amount would be approximately $1450 (from the original purchase). The approximate new position dollar amount would be (ballpark) $650 at current levels.
What is bad....... there will be tons of mmtc shares to distribute in the open market which will dilute your mmtc position as before, perhaps exponentially. Your original position incurred paper losses from .0029 to the current .0013 mmtc price. The new shares and elevated prices will allow a few things to happen - far more shorting and continued dilution which will accelerate future equity decline.
mmtc has no cash at all. The reverse split is designed to raise money. As money is received your stake in mmtc will decline in step with new shares being distributed. The market nearly always adjusts to the reality involved.
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