I believe the entire deal was held up while they issued a new prospectus. I don't know why or what the difference is between the new and old, since I don't have both copies to A-B compare. A rep of Fordham tried to call me this morning but I was in a meeting so I don't know what he wanted.
I had expressed some interest in buying a few new issue shares but now I've decided to hold off and see where this goes. I'm pretty much at the self-imposed limit I set for $$$ per equity and their not getting the RS done on time doesn't give me much optimism.
The guys from Fordham called me too. To say that now the deal for offering has been sweetened to include half an option for each share of stock you buy. This is not out of the kindness of their hearts, but because, I believe, they've had trouble selling the 5 million shares. Don't know how this bears on the failure to split today. I will also not be buying any more shares. Good money after bad. Also, I think the post split price will not hold up and there will be opportunities to buy even cheaper if you want.
Per the news release "The fifty-for-one reverse stock split of PolyMedix's common stock will take effect at 5:00 p.m. ET on Friday, March 15, 2013. The Company's common stock will begin trading on a post-split basis on Monday, March 18, 2013." I hope this is not the NEW REVERSE SPLIT PRICE! I got completely out before the vote until the dust settled so I could get clarity again. IS THIS CLARITY?
So far (12 noon Central) my trading account in Canada through Scotia as well as the kids / grandkids US accounts through Sharebuilder do not yet show the reverse split... stock numbers have not change to 1/50th.