Anybody notice how the share price has lost about 65% over the past several days due to the reverse stock split announcement?
What do you think will happen after the reverse stock split actually happens here?
Just look what happened to this stock after the previous reverse stock split.
Does anybody know what another reverse stock split is actually going to accomplish here?
The share price will artificially go higher and then crash again just like with the previous reverse stock split, that is my opinion.
Massive dilution will happen here again after the reverse stock split, who benefits from that?
WHO BENEFITS FROM THE "COMMON" SHAREHOLDER EQUITY GETTING TOTALLY DESTROYED HERE?
A camel can only carry so much straw. It was just a matter of time for the vultures to move in. The big payoff, if there is one, won't be seen by the present holders.
Anybody who bought ILNS shares a few years ago has seen 99% of their money gone, if they are still holding shares from a few years ago.
That is no exaggeration, 99% loss if you are holding your shares now if you bought them before the first reverse stock split.
I've seen that happen with some other stocks like GNTA a few years ago, 99% loss with anybody holding GNTA shares.
This stock could not even go or hold above 1 cent for the past many months so why all of a sudden would anybody think it will go above 1 cent now?
2 years from now when the share price goes back down to under 1 cent again they will probably do a 3rd reverse stock split here after they dilute again a few hundred million shares before doing another reverse split.
In April 2011 this company did a 1 for 50 reverse stock split.
The share price totally crashed as it will again after this current reverse stock split, my opinion.
After the reverse stock split in 2011 there were only 26 million shares here.
Now the share count is close to 400 million shares because of some very toxic financing deals.
The massive dilution here will continue after the "new" reverse stock split happens, my opinion.
This borders on ethical if not downright criminal, my opinion.
Fluff press releases about a possible buyout or some magical drug or partnership with another pharma or royalty from some drug or patent does not change the fact that the common shareholders here have had their equity totally wiped out at least twice through 2 reverse stock splits and it will only get worse here if that is even possible, my opinion.
I am surprised that there has not been a class action lawsuit started here.
Don't get mad at me! Get mad at the CEO and others who agreed to the 250 to 1 reverse split, to the harm and detriment of current shareholders!
While it is possible that in the long term, they might be able to turn the company around, the reverse split is a disrespect of the current shareholders who have supported the company up until now.
Instead of allowing current sharholders to fully participate in the company's possible turn-around, the reverse split: shrinks the base number of shares that the current shareholders have working for them, reduces liquidity, and allows more room for the post reverse split shares to fall, if expectations are not met.
I have never, ever seen a reverse split that was ever done to the benefit of pre-existing shareholders.
Instead, I see it (the reverse split) as a way top management can preclude pre-existing shareholders from making the big money (since they'll have less shares working for them) if their turn-around is successful. Any explanation that a reverse split is good for everybody is just a smoke screen.
Sentiment: Strong Sell
is the fact that there is evidence of serious money involved with the reorganization of this company. Somebody is willing to plunk down several million to give breathing room. Any guesses? I have my own thoughts but buried in previous financing are a few other majors that could be lurking. At least now we have a sense of legitimacy. Is it a coincidence that the new funding came within 2 weeks of the Shire/AbbVie announcement?
Interesting to note is the fact that the recent 8-K report states that within 45 days of the approximately July 31, 2014 financial agreement, there will be a reverse split of 250 to 1. In my opinion, this will just give the stock more room to fall.
Sentiment: Strong Sell