you are viewing a single comment's thread.
More shorts trying to use fear.Current share are not going to be cancelled out.The increase in shares are already priced in.No need for a reverse split just to watch the share price drop back down.IBCP will convert shares.This will raise capital.When all the dust settles and the housing market picks up steam, shares can be bought back.Until then IBCP can revert shares with the goverment at a huge discount.Uncle Sam will convert at $1.754. That is a bargain for IBCP. That will take $72 million in debt away and save the bank $3.6 million in interest. When the housing market recovers, so will the banks. When that happens, shorty will have to cover fast and fuel a nice rally.