Posted On: 07/22/2016 6:28:53 PM
Post# of 1873
"Reasons and timing of the Reverse Stock Split
Assuming resolution of pending litigation with and against two of our subsidiaries, Morris Transportation, Inc. and Smith Systems Transportation, Inc., of which you have no assurance, we believe we will achieve profitable results of operations, of which you have no assurance, and an improvement in our balance sheet. Assuming these outcomes, we believe the market for our common stock will react positively with improvements in trading prices. The lesser number of shares outstanding following the Reverse Stock Split will result in a higher earnings per share (and a higher loss per share, in the event we experience losses) which may over time lift us out of the “ penny stock ” category. This is, of course, a forward-looking statement, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended."
They're no doubt gunning for that R/S as soon as those audits drop. It might be reasonable (pending your taxes) to sell off of the audit boost and rebuy in after the R/S drop occurs. Something to consider if you're currently a long-term holder in the eyes of the fed.
Assuming resolution of pending litigation with and against two of our subsidiaries, Morris Transportation, Inc. and Smith Systems Transportation, Inc., of which you have no assurance, we believe we will achieve profitable results of operations, of which you have no assurance, and an improvement in our balance sheet. Assuming these outcomes, we believe the market for our common stock will react positively with improvements in trading prices. The lesser number of shares outstanding following the Reverse Stock Split will result in a higher earnings per share (and a higher loss per share, in the event we experience losses) which may over time lift us out of the “ penny stock ” category. This is, of course, a forward-looking statement, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended."
They're no doubt gunning for that R/S as soon as those audits drop. It might be reasonable (pending your taxes) to sell off of the audit boost and rebuy in after the R/S drop occurs. Something to consider if you're currently a long-term holder in the eyes of the fed.
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