TOP MARKET GAINERS dot com (google em) looks like they are about to have another big alert. Their last Nasdaq play delivered over 30% in a couple of days.
I'll keep this short and sweet...Google "Penny Stock 101 org' signup for their free newsletter and get their next trade alert. Come back and thank me tomorrow!
The Board met yesterday and announced the reversed stock split proposal was not approved.
I'm not sure exactly why they wouldn't approve a reverse stock split. Certainly, this impactsliquidity to the shares and makes the future for the company less certain.
The full announcement as posted in the SEC filing:
The following proposal, approval of which required the affirmative vote of the holders of a majority of all outstanding shares of the Company's common stock eligible to attend and vote at the Meeting, *was not approved*:
(3) The approval of an amendment to the Company's Amended and Restated Articles of Incorporation to effect a reverse stock split of the Company's issued and outstanding common stock at a ratio of not less than one-for-two and not more than one-for-ten, with the exact ratio to be set at a whole number within this range to be determined by the Company's board of directors (the "Board"), or any duly constituted committee thereof, in its discretion, and the authorization of the Board to implement the reverse stock split by filing the amendment with the Registrar of Corporations of the Marshall Islands.
I just think we see the insider buys, you see the 100K bid, think this might be the bottom and a nice play from here. Any upside surprises or announcements could double or triple this thing by tomorrow or in the coming days and weeks
What happens to the preferred stock? Currently $8.40 with $25 par.
I think a reverse split is in the making. They will be getting a listing notice because they are below a 1.00. Anyone disagree?
Mr. Michael Bodouroglou ... commented: "In an effort to enhance shareholders' value..."
Using the term shareholder value should be forbidden for this guy. And BTW he should step down immediately for this complete disaster.