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Vringo, Inc. Message Board

  • fortunehunter58 fortunehunter58 Jun 20, 2012 4:03 PM Flag

    reverse split

    Question

    If they only have 14m oustanding shares then why in the hell would they do a R/S which is always the kiss of death for the common shareholder

    I could understand if they had hundreds of millions in shares outstanding but this does not make any sense

    Anyone got a clue

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Can't see it. Shares after merger would be about 54 Million according to "The Plan". I am not a big long time holder (5,000 shares bought on the 03 April) I could be wrong but -- it seems to me the merger plan calls for a new surviving company (Merger Sub?)will be formed and VRNG share holders will end up with 32.45 Per Cent of the shares in that company and the rest go to them (Innovative Protect and I/P engine share holders - COIN. May buy more tomorrow.This whole deal in my opinion was to merge with a company that was already listed and the price was 1/3 rd if the new company. However, I will sell on the run-up of an Offer and there will be an Offer soon because that percentage may or may not reduce my shares to 32.45 per cent - I can't take that chance unless it is clarified. I also own 10,000 shares of NEON but for longer time with the same attitude. -- Just my opinion

    • IN order to stay complient & keep stock listed w/ AMEX- they need to maintain a share price of at least $3. Based on the markman ruling & current share price, the R/S won't be necessary.

    • To stay listed on the exchange.

      That is why.

 
VRNG
3.279-0.111(-3.27%)2:10 PMEDT

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