There will be no RS because...
1st. The company has not even begun the process of an R/S. A Pre 14A means Dear Diary, today me and the board considered this idea. An RS would require a Def 14A (the "A" means it requires a vote vs. Def 14C which means no vote required). Then it would have to go through the shareholder vote process which will likely not be approved. Then it would need to get final approval from Finra. Which brings us to reason 2.
2nd. The company just did an RS in October. A mere 5 months ago. It is highly likely that after a Def 14A, a shareholder vote, that Finra will not approve another R/S so soon. It requires showing good cause. After doing one 5 months ago there is no good cause to do it again. The company has already been delisted from NASDAQ. They're not getting that back anytime soon. That would be the sole justification like October to effect an RS.
All the odds are stacked against an RS happening anytime soon if ever. By the time it could even be put into effect the share price is likely going to significantly recover and that idea will be shelved indefinitely.
The company will likely just continue putting out Pre 14's every month just in case they ever become serious about issuing a Def 14. Until we see a Def 14 this isn't even a matter to consider.
POWERBATTLE
1st. The company has not even begun the process of an R/S. A Pre 14A means Dear Diary, today me and the board considered this idea. An RS would require a Def 14A (the "A" means it requires a vote vs. Def 14C which means no vote required). Then it would have to go through the shareholder vote process which will likely not be approved. Then it would need to get final approval from Finra. Which brings us to reason 2.
2nd. The company just did an RS in October. A mere 5 months ago. It is highly likely that after a Def 14A, a shareholder vote, that Finra will not approve another R/S so soon. It requires showing good cause. After doing one 5 months ago there is no good cause to do it again. The company has already been delisted from NASDAQ. They're not getting that back anytime soon. That would be the sole justification like October to effect an RS.
All the odds are stacked against an RS happening anytime soon if ever. By the time it could even be put into effect the share price is likely going to significantly recover and that idea will be shelved indefinitely.
The company will likely just continue putting out Pre 14's every month just in case they ever become serious about issuing a Def 14. Until we see a Def 14 this isn't even a matter to consider.
POWERBATTLE
