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On December 8, 2020, the stock is trading in the range of $0.89 before split. At market close, company announcement 10:1 split.
On December 9, 2020, the price per share drops after that negative news to $6.83 at the adjusted 10:1 split price.
December 10, 2020, important company announcement. They acquire NEOs. It's madness in the market. $12.5M of stock traded to a high of $11.36. The average cost of shares traded should be around $9.5. Dollar amounts of estimated transactions = $118.75M. In the last hour, the price per share starts to go down to end at $8.13.
On December 10, the market closes. Surprise offer at $6 to raise $15M. Boyd buys and invests $8M. three hours later, the financing offer is increased by $10 million for a total of $25 million.
How did Boyd know to wait after the markets close to buy at $6?
How did investors show their willingness to put in an additional $10M three hours after the first financing offer?
How is it that the choice of news released by the company was so timed?
Who got rich that day because after all, a monetary value of almost $120M was traded.? The company got $25M, the others who are hidden made how much profit on the $120M traded?
This is how they are complicit and working all together to enrich themselves.
Here is Josh's response.
Surprise offering at $0.28 which will double the number of shares outstanding. I do not think and will not encourage that in the next 6 months, the price per share will be on the rise and therefore a new downward peak is to be expected. I would therefore have no choice but to perform a reverse split 20:1
It is what it is.
Josh 'Ponzi' Disbrow
Quoted from the news.
''The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed or as to the actual size or terms of the Offering.''
They already voted FOR a compensation to management.
No bonus shares are and or were issued to them.
The reason is they are waiting after the split to not suffer the dilution.