They are not doing the reverse split because of compliance issues. They are in compliance with NYSE.MKT and do not have to be above a dollar. They actually can go as low as .25 cents and still be in compliance. This is the Old AMEX not the NYSE. I think they are following suit because they have seen how many investors were interested in INVE once out of the cellar
Can't find when they have to have their stock price above a dollar. Anyone know when this compliance date is so we know when the reverse split announcement will come?
A reverse split (as well as a stock split) has no impact on the underlying value of a stock. In a rational world, it should have no impact on a shareholder's investment.
So why has IDN dropped five days in a row as knowledge of the revere stock split became available to its shareholders? Is it because the reverse split is a signal to investors that they were naive in thinking that this stock could increase in value based on its business strategy? Is it an acknowledgement that the company will continue its path to diaster?
Get out while you can?
Managements desire for a reverse split has nothing to do with the possibility of delisting. IDN meets the minimum requirement for the NYSE MKT whether they split or not...at least for now.
Do vote NO for the reverse split! Put this company out of its misery.
Wihout a reverse split, the company will get delisted and trade in the blackhole where delisted stocks trade. That will be the end of it. RIP.
Yep I placed my vote... was glad to see 1for 8 ...now I'll have 12 shares...and some change ...plan to buy more later...want to see how the popular vote goes....I don't think the stock will pop for a while...At least I own shares...
Sentiment: Strong Buy
What is the incentive? So IDN would give a restaurant or bar the tool to check for fake IDs. But is this really an issue? Even if the ID is fake, the restaurant or bar has no liability so long as they made a good faith look at the ID. This is not a security issue. Indeed, if the ID is fake, the restaurant has the sale.
Open your eyes.... take the blinders off...
Ya think it was a coincidence that the very same day IDN made the proxy filing on the 1 for 10 reverse split they put out that very empty news piece
You have to learn to stop swallowing meaningless PR.... Restaurant chain buys bar zap... 16 locations... worthless in supporting 40 mil shares and a $30 mil mkt cap...
TWIC readers at port for oil company.... like how many secure gates do they have... 5-10???? if that.... again worthless
Hospitality conference.... give me a break... empty
Remember that any bar that uses IDNs device on any customer must use that device on every customer less they be accused of some form of profiling/discrimination.... let alone those that are scanned are stored in a data base... frightening... I don't want a drink in a place like that
You can go on and on about this POS... its not even dead money... its circling the drain money and has been for years...
The one positive of the reverse split is after they reduce the float to next to nothing and the price settles it will be subject to significant pops as the manipulators go to work all over again
level 3 did a reverse split and it had no effect .... going from 30,000 shares to 3,000 is not an issue to me...being delisted is ....no debt good product idea.... we just need a sales group that delivers results up to now I have not heard of any new Results...
Sentiment: Strong Buy
I suspect it is do a reverse split or get delisted. Exchange rules require delisting a stock that is below $ for any length of time. Maybe they can do a 20 to 1 exchange and get back to the original price at which they went public.
I know that when companies do this it is bad for the stock price, but the question that I can never figure out is why is it so terrible? You have the same DOLLARS, even though you do not have the same amount of shares, what is the big deal?? If you look at INVE you will see that it was not so terrible. Anyway, I was always wondering why it was so terrible. Thanks
Do yourself a favor and read the proxy statement on Edgar.... denial is not only a serious mental condition failing to confront it can cost you a lotta money...... or could it be all that weed that you seem so wrapped up in that is clouding your judgment... smoking dope and analyzing a stock really don't go together all that well
That's gonna reduce the shares to just 4 mil.... and I can guarantee another highly dilutive SPO IF they can maintain a share price in the $7s
This will be the greatest destruction of shareholder value yet.... all to keep the quarter million dollar salaries flowing for years to come.... hey it pays the rent which the Ludlows receive too
on the down side I will have to up my price target to fiddy cent after the split
The saddest thing though is with so many long time IDN shills still on this board it took a full month for any discussion of this event to appear hear... It is a sign that IDN "investors" are probably the most ignorant I have ever come across... If it aint ignorance.... its gotta be denial.... of what a POS they are married to and continue to own
I would have reversed it by 1 for 3 but obviously the "advisors" don't believe that $2.20 leaves enough downside to remain listed.... that means they expect a drop in share price greater than 50%
Only a head of lettuce is not taking what they can right now
The parties over.... turn out the lights... turn out the lights.... great appropriate lyric for the stoners from Washington State