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PENN OCTANE CP Message Board

  • gracedomain gracedomain Jan 20, 2005 12:39 PM Flag

    why does it go down????

    I think the POCC's seeming primary goal of keep its stock price near at $1.00 (because of its fear of being classified as trash stock) is too costly and disappointing for some investors.
    Why does it go downward further???
    There is no bad news... another cash shortage? but what happens to a new cash flow loan??????

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    • Management probably does not care if POCC is delisted. If it is delisted, they save money in terms of meeting the various legal and regulatory requirements required to be on the various exchanges. If they were really interested in holding off delisting, they would enact a 1 for 10 reverse split(i.e. 1 new share for 10 old shares) and push POCC to roughly $10.00 a share, which would more than remove the issue of delisting.