I think there are more shorts on this than you thi
Post# of 22755
Posted On: 03/23/2016 3:24:32 PM
I think there are more shorts on this than you think. they've been all over this one since the R/S.
"The Company has no remaining outstanding, unconverted Series C warrants remaining. Since the effectiveness of the December Reverse Stock Split, our stock price has declined from $4.18 to $0.20, as of January 26, 2016. In that same period, the increase is shares outstanding caused our market capitalization to increase from $13.3MM on December 14 to $14.9MM on January 26, 2016. However, as a result of our share price decline, we will need to conduct the Reverse Stock Split to increase the closing bid price of our common stock above $1.00 per share. It is the Board’s and management’s belief that without the downward pressure of the Series C Warrants being exercised and sold into the market, the price of the Company’s shares of common stock will not experience the dramatic drop in price following this Reverse Split that it did following the December Reverse Split and therefore the Company will be able to regain and maintain compliance with the NASDAQ bid price deficiency following the proposed reverse split."
"The Company has no remaining outstanding, unconverted Series C warrants remaining. Since the effectiveness of the December Reverse Stock Split, our stock price has declined from $4.18 to $0.20, as of January 26, 2016. In that same period, the increase is shares outstanding caused our market capitalization to increase from $13.3MM on December 14 to $14.9MM on January 26, 2016. However, as a result of our share price decline, we will need to conduct the Reverse Stock Split to increase the closing bid price of our common stock above $1.00 per share. It is the Board’s and management’s belief that without the downward pressure of the Series C Warrants being exercised and sold into the market, the price of the Company’s shares of common stock will not experience the dramatic drop in price following this Reverse Split that it did following the December Reverse Split and therefore the Company will be able to regain and maintain compliance with the NASDAQ bid price deficiency following the proposed reverse split."
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