Not anymore: Respectfully, why No MYDX Reverse
Post# of 1481
(Total Views: 4152)
Posted On: 04/10/2017 2:07:05 PM
Not anymore:
Respectfully, why No MYDX Reverse Split...
Within the previous MYDX Shareholder Letter below released on Jan. 09, 2017, the stock was trading in the .0022 per share range, but the company clearly stated that the company reserves the right to "not to proceed with the reverse split" if it is determined such is no longer in the best interest of the company of which is evidently not in the best interest of MYDX to proceed with such as I will further elaborate.
http://finance.yahoo.com/news/mydx-announces-...38724.html
"The board shall maintain the right to elect not to proceed with the reverse split if it determines that this proposal is no longer in the best interest of the company"
Here’s why that proposal is no longer in the best interest of the company. Before MYDX was trading in the .0022 per share range, it actually hit a low of .001 per share. Currently, and even back then, MYDX was and still is trading at OTCQB status to where a minimum share price of .01 per share is one of the mandatory requirements to maintain such status. Back then, with the price sitting at the low .001 to .002s range, a reverse split was deemed necessary for the company to maintain its OTCQB status. However, now that MYDX has maintained trading and closing over .01+ per share for quite a while now, a reverse split is not needed.
Respectfully, why No MYDX Reverse Split...
Within the previous MYDX Shareholder Letter below released on Jan. 09, 2017, the stock was trading in the .0022 per share range, but the company clearly stated that the company reserves the right to "not to proceed with the reverse split" if it is determined such is no longer in the best interest of the company of which is evidently not in the best interest of MYDX to proceed with such as I will further elaborate.
http://finance.yahoo.com/news/mydx-announces-...38724.html
"The board shall maintain the right to elect not to proceed with the reverse split if it determines that this proposal is no longer in the best interest of the company"
Here’s why that proposal is no longer in the best interest of the company. Before MYDX was trading in the .0022 per share range, it actually hit a low of .001 per share. Currently, and even back then, MYDX was and still is trading at OTCQB status to where a minimum share price of .01 per share is one of the mandatory requirements to maintain such status. Back then, with the price sitting at the low .001 to .002s range, a reverse split was deemed necessary for the company to maintain its OTCQB status. However, now that MYDX has maintained trading and closing over .01+ per share for quite a while now, a reverse split is not needed.
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