I thought Ken had at least one pump in him for BVIG. I must've overestimated him.
So now we see why Ken and Tim issued shares to hold just over 50% of the stock. They held a 2 person vote for this action:
Odds are very high that they go through with the reverse split. Current retail holders are pretty much going to get their current positions wiped out. New O/S will be just under 750k and they will authorize the issuance of 5M in Series B and 5M in Series C Pref stock. We know where those shares are going. They also state they will issue more shares under the new symbol for business purposes. It wasn't the "shorters" and alleged manipulative MM's that were the enemy in the end.
What will be salt in the wound is the additional fees brokers will charge for the reverse split.
I can see them jumping on the mmj bandwagon that has the US and Canadian investment communities excited.
I'm watching this from the sidelines now. Just going to use it as an early trading lesson and tax write-off for 2014. There have been much better investment opportunities for the past few years.