Can someone tell me why they are complaining about the share price of IOC?
It seems almost all publicly traded companies in this sector, especially those that are not profitable have seen similar drops in their share price.
Why blame IOC management?
You are correct. By the way, I was the FIRST person to warn everyone about the Black Sholes problem.
There is no reason why the stock price shouldn't go back to 10 cents and then the company can once again do another 60-1 split
On July 20, 2015 VPCO sold 3,761,000 Units. At 128 Shares/Unit the company would have to issue 481,400,000 million shares to the unit holders + warrants. With this exchange offer of 128 shares/unit, each 1000 unit holder that paid $11/unit will in effect get 128,000 shares or 8.6 cents/share + warrants.
Some might think this is a good deal to the Unit holders, but this is no more than math TRICKERY that might confuse the market participants that are stupid.
Since the Unit holders own almost all of the company, whether the company offers them to convert at 20 cents or 10 cents or even 1 cent, the price DOES NOT matter as they will all be trying to GET OUT and sell their shares to re-coup their original investment and there WONT be enough buyers in the market to take them out.
8.6 cents might seem like a good price, but with 481 Million more shares being issued + warrants this stock should go straight down like a failed rocket launch.
Will be interesting to see.