$BSTN Annual Meeting. I received and read their notice to shareholders and came away with the following info. Please do your own DD as my interpretations may be different than yours.
- Meeting is April 7th
- Currently not structured favorably for owner(s) thus the proxy a lot of us received.
- They would like to do a reverse split (we all knew was coming) and have no plans to issue more stock.
- Create preferred stock which will remove common stock holders power to vote really.
- The word "merger" is used a lot. Just an observation.
- If they don't get the votes they will end the meeting and wait to vote again at a later date.
- Board of directors can be dissolved at any time. I think they will be gone if vote is positive.
- I think the owner has enough shares to win the vote.
- They want to go to a "blank Check Co.) which is basically a private equity company.
I interpret the above and speculate the following:
- Vote will pass thus giving the the right to do anything.
- Stock split would most likely be a few days later seeing they have to file it.
- Stock price will climb a little bit I think into the meeting seeing they want a favorable ratio split. I don't think they want to use .0001 as the basis. I mean .0002 is a 100% bump. When you see the bid show up we'll be getting close to the day it splits. My guess is that you'll see a lot lower share numbers trading. The MM will have to buy back the shares seeing I don't think they own them anymore. No buy-back, no more up as they are waiting for the new series to make their money which means they believe the price will go down after the split (usually the case)
My guess is 20 to 1 no more than 50 to 1 split. Good luck to those holding