I was a victim of a reverse split with an oil company stock. It is at 00.01 I was in at 1.37, a year and a half ago. The one positive is this company is going to a major exchange, with an FDA approved product. My question is why 25-1? They still have 2 months before the announced time table and the stock has been going up these last 3-4 days. Why not wait until 34 cents and have 50 million shares outstanding, which is not allot? Something is in the works for them to do this earlier than planned. The outstanding balance of shares is 25 million which does not seem like allot. Kind Regards
I also think they did this sooner than necessary and don't know why. Perhaps they figured they were lucky to pull the trigger at 17 cents because the stock could go back down to 14 cents. I think that if they had some aces up their sleeves to play that would make the stock soar then they would have waited till they laid out those cards to do the reverse split. I think the shorties will tank the stock unless there's some great news coming.
They have nothing up their sleeve... the aesthetic indications for LaViv haven't generated the kind of revenue they need to sustain themselves and any other indications are years off. Nothing will bring the share price up except Q/Q significant and increasing revenue.