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Posted On: 12/02/2017 2:27:13 PM
Post# of 3600
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As I posted on the other site: In my opinion, the reverse split is terrible news for investors because it substantially robs us of the tremendous leverage that we had. I am one of the original investors - I have held my shares and added to them over the years. Before the split, my break-even point was .01 - something that I felt would be easily surpassed once products were sold. However, now just to break even the price would have to go all the way up to 2.00, and the upside potential is greatly diminished. I really feel that George has thrown us under the bus for a momentary bump up to .04 - I say "momentary" because unless the underlying fundamentals change very quickly, there does not appear to be anything to prevent the price from drifting back down. Based on the press release from Friday, I don't see anything very new or imminent on the near-term horizon. I think that we all understand that the best way to increase share price is to sell products, not to artificially manipulate the price. In the past, I recognized that a reverse split might be used to elevate the stock to a different exchange, which would be a valid use of the split. But I can't imagine that a price of .04 accomplishes much. My guess is that the split was a requirement for some financing. However, I view it as a betrayal of investors, especially if (as some have stated) George's shares were shielded from the split. I would be interested to hear other opinions.
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