I will be the first to admit I am never a member of the reverse split fan club. However, in the event of a merger/acquisition of another company(ies), where shareholders receive equatable value for the shares surrendered in exchange for the newly issued shares it will work. It sure would be nice to see audited financials from all the parties looking to merge.......
On a different not, most people's hatred of a company's stock reverse split is more commonly rooted in a trust issue with the company's BODs. Far too often a company's BODs will vote for a reverse split without reducing the authorized shares. A short time later the board starts up the printing press again and begins issuing newly minted company shares to raise additional working capital. I think in the case of FITX, our BODs are in a position that we are adequately funded and will have a phenomenal revenue stream (shortly) that will support all future growth and company expansion without the need for additional share printing/issuance.
And how about the just now released PR announcing three additional BOD members for our little GREEN gem. Our BODs appear to come from a very diverse group, a cross-representational of many segments of corporate and private America/Canada and should serve our company and us investors well going forward.
On a different not, most people's hatred of a company's stock reverse split is more commonly rooted in a trust issue with the company's BODs. Far too often a company's BODs will vote for a reverse split without reducing the authorized shares. A short time later the board starts up the printing press again and begins issuing newly minted company shares to raise additional working capital. I think in the case of FITX, our BODs are in a position that we are adequately funded and will have a phenomenal revenue stream (shortly) that will support all future growth and company expansion without the need for additional share printing/issuance.
And how about the just now released PR announcing three additional BOD members for our little GREEN gem. Our BODs appear to come from a very diverse group, a cross-representational of many segments of corporate and private America/Canada and should serve our company and us investors well going forward.
