better no PR at all.
First PR the stock dropped from 3.14 to 1.64,
Second PR, it dropped from 1.7 to 1.25.
What will the third PR do for the stock, halted?
However, with losses piled up for the shareholders, no hope to swing back up before EOY.
people may buy it few months later, not now. How many people caught in margin call? highly possibly, lawsuits will come also. Wish the company will survive such attacks.
textbook should tell: don't average down until it bottoms out and starts to move up.
he did mention the number, which is said total outstanding will be no more than 23miln if all converted including new notes and warrants.
bad news? what can be worse?
However, if there is no good news from EMA tomorrow morning, we could see some profit taking. No more than that.
The conversion price should not be as cheap. But the problem, those notes or warrants owners might think they will get nothing with the company. Bitcoin just gave them the opportunity to move away from this company. Now if the company focuses on the bitcoin trading, it might have chance to recover. It needs at least 6 months though. The bitcoin business should move fast, otherwise, the later comers would take this advantage easily.
So, now, what is the balance sheet of this company. This makes me to think that the CEO is a negative asset. He should ask the BTXtrader developers to answer the technical questions.
This is not correct. Since the warrants cost basis is $7.32. So the total conversion cost is $7.52 per four shares. $1.88/share. Even though the total converted shares are way less than one million. How could it traded 12mln today? A huge question mark needs to cleared tomorrow.
Should be 1.27 plus 2.7 mln = 4 mln shares even after conversion. The authorized shares are for future purpose. Still don't understand why it traded 12mln shares today.
See the quote from last reverse split:
'Effective May 28, 2013, WPCS International Incorporated (the "Company") amended its Certificate of Incorporation, as amended, pursuant to which the Company effected a one-for-seven reverse split of the Company's issued and outstanding shares of common stock (the "Reverse Stock Split") and reduced the number of authorized shares of common stock by the same ratio, from 100 million to 14,285,715.'
That is why it increases the authorized number to 75mln.