Per Rabin: " I know very well that most reverse splits are are, ahh......at least in the short term, value destructive...."
13. STOCKHOLDERS’ EQUITY TRANSACTIONS
On April 26, 2012, at the Annual Meeting of the Company’s Shareholders, the Company’s shareholders approved an amendment to the Certificate of Incorporation of the Company to effect a reverse stock split of the Company’s common stock, par value $0.001 per share, at a ratio not less than one-for-twenty and not greater than one-foreighty, and reduce the number of authorized shares of the Company’s common stock in the same proportion as the reverse split, with the exact ratio to be set within such range in the discretion of the Board of Directors without further approval or authorization of the Company’s shareholders, provided that the Board of Directors determines to effect the reverse stock split and proportional reduction in authorized shares of common stock and such amendment is filed with the Secretary of State of Delaware no later than December 31, 2012.
Rabin has been a value destroyer in a league of his own. His mistakes are the stuff of MBA case studies. Probably the biggest from a pps standpoint was his ludicrous announcement to do an RS way before he knew what was involved and how likely it was. Since the RS announcement the stock has tanked.
I have no problem with an RS, just the extremely premature announcement. And how much does this guy get paid?
I am pretty sure, that ACTC expected a better market reaction to what they saw and see in the science. So did I, but the delay of the RS and the wait for a position of strength which too many investors only see in a high SP was a big mistake.
We could be already a reputable company listed on NASDAQ with the fallout of the reverse behind us, institutional investors and a bright future based on a very promising science.
Yes along those lines Rabin screwed up and I no longer have a better solution than buying even lower.
ACTC has the financing and the salaries get paid, the trials have to move slow, there is too much at stake. NASDAQ might refuse to list at the present time and investors only see the position of strength in a higher SP.
We missed the boat and many investors will think, the hurdles for a NASDAQ listing were too high, and maybe they are, and Rabin will claim that they will continue waiting for a position of strength in the SP. His way out !!!
And here goes the can down the road and down goes the SP.
The fear of a reverse is hurting smart investors who understand that any selloff is a buying opportunity.
"The fear of a reverse is hurting smart investors who understand that any selloff is a buying opportunity."
You have been saying crap like this, since the pps was what, .20? That's a loss of 70% for anyone who listened to your hype. What's too bad is that you are trapped here, like thousands of other retails who can't exit without turning that huge paper loss into a huge actual loss. It pains me to think there are new would-be investors who read your hype, and make the mistake of buying actc only to join the misery.