I definitely do NOT want a reverse split. Been there, done that. Not good for existing shareholders. Usually done to avoid a delisting. A reverse split isn't needed yet anyway. The stock has to stay below $1.00 for 30 consecutive trading days before the Nasdaq would send the co. it's first warning letter, in which they would be notified that the co. has six months the get the stock back above $1.00 The stock will have to stay below $1.00 until Jan.31st before the warning letter would be sent.
JR- Thanks for checking my post. You and I are mostley agreed. Reverse, as I said would be bad for existing shareholders. My scenario however, does not depend on what you or I want,or on a delist threat [just makes it more likely], or even if it is needed. Just the co. wanting to raise the share price and get more money at the expense of shareholders. Been there done that. If it happens,all or part, I see it within 7 months. If not I will gladly say I was wrong, even though I am not saying it is a certainty. 80 million shares at $1 is a big red flag, and they want money to buy more ships and increase thier power and prestige at shareholder expense. Remember I posted it 3 months ago before the drop below $1. Just food for thought for those who see now way it can go lower, as I agree it is underpriced. GLTA