Posted On: 09/22/2015 10:07:30 PM
Post# of 30066
Agree with the first statement. As for the second, although I'm not sure if I am correct, I can definitely imagine.
The CFO said that they need to meet two requirements to uplist - $4 for 30/60 and to raise funds via the shelf offering.
I think that they hit the first one (at least at some point) and are working on the second prong - the IPO via a shelf offering. They thought they could raise the necessary funds to have the necessary shareholders equity quickly as they thought the price would be much higher. But it isn't. So we have day after day of dilution at these insanely low ... and then lower ... prices.
Maybe when they sell enough shares at these low prices to hit the shareholders equity requirement, we will see them uplist.
The CFO said that they need to meet two requirements to uplist - $4 for 30/60 and to raise funds via the shelf offering.
I think that they hit the first one (at least at some point) and are working on the second prong - the IPO via a shelf offering. They thought they could raise the necessary funds to have the necessary shareholders equity quickly as they thought the price would be much higher. But it isn't. So we have day after day of dilution at these insanely low ... and then lower ... prices.
Maybe when they sell enough shares at these low prices to hit the shareholders equity requirement, we will see them uplist.
Quote:
I think everyone here is in state of shock.
No one can imagine what's really going on.
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