Posted On: 05/03/2016 8:19:53 AM
Post# of 96892
Re: micronesia #58740
Just sent off this email to Mr. Foley fwiw:
Mr. Foley: Just read your latest shareholder update and again you mentioned reverse splitting the stock. As both a shareholder and someone who for the past 17 years has been fighting naked shorting I implore you not to do so. The reverse split is the friend of those who are abusively naked shorting the stock and the enemy of the company and its shareholders. Immediately after the reverse split the shorts will attack once again with a goal of driving the stock back to its pre split price ASAP. Reverse splits do not work except when the company is utilizing it as part of an uplist.
So if you feel you must reverse split make the split large enough to move to a listed exchange otherwise you are throwing your shareholders under the bus. A spin off of Ultraflix on a 20/1 basis would be far preferable to the company and its shareholders. Most shareholders are underwater at this point because of a combination of dilution and abusive naked shorting. Death spiral financing is not the answer nor is a reverse split and I ask you to do the right thing and if that means selling the company rather than playing into the hands of those that want to bankrupt the company by shorting the stock so be it.
Best
Alan S. Cameron
ecame71225@aol.com
A resource for you http://www.deepcapture.com/
Go NTEK!!!
Mr. Foley: Just read your latest shareholder update and again you mentioned reverse splitting the stock. As both a shareholder and someone who for the past 17 years has been fighting naked shorting I implore you not to do so. The reverse split is the friend of those who are abusively naked shorting the stock and the enemy of the company and its shareholders. Immediately after the reverse split the shorts will attack once again with a goal of driving the stock back to its pre split price ASAP. Reverse splits do not work except when the company is utilizing it as part of an uplist.
So if you feel you must reverse split make the split large enough to move to a listed exchange otherwise you are throwing your shareholders under the bus. A spin off of Ultraflix on a 20/1 basis would be far preferable to the company and its shareholders. Most shareholders are underwater at this point because of a combination of dilution and abusive naked shorting. Death spiral financing is not the answer nor is a reverse split and I ask you to do the right thing and if that means selling the company rather than playing into the hands of those that want to bankrupt the company by shorting the stock so be it.
Best
Alan S. Cameron
ecame71225@aol.com
A resource for you http://www.deepcapture.com/
Go NTEK!!!
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