I don't believe they have the reverse split assure
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Posted On: 03/02/2019 5:57:20 PM
Re: TryingMyBest93 #14395
I don't believe they have the reverse split assured, but I think they probably only need 20% or so of the votes that they don't control. If we individual investors are solid in our opposition, I believe it will either fail, or they'll pull the proposal, and perhaps offer a much different proposal.
One thing to me is clear, if they reduce the shares outstanding to under a million shares, it won't be long before they're back at 50 million or more. Note that 50 million is 10% of the total shares authorized without asking shareholders to authorize more.
Personally I would rather authorize a greater share count than a reverse split with the current number of shares outstanding, but see no reason to do either at this time. If the share price is built up by having success in achieving approved patents and demonstrating efficacy in trials, at higher prices, in excess of $1 if funding is needed that roughly doubled the O/S to say 300 million shares, I would have no qualms about authorizing the total to go to say 750 million shares to give management great flexibility for negotiating. No company wants to issue nearly all the shares they have authorized. We currently have roughly 30% of what's authorized outstanding, I don't see that as a problem right now.
Gary
One thing to me is clear, if they reduce the shares outstanding to under a million shares, it won't be long before they're back at 50 million or more. Note that 50 million is 10% of the total shares authorized without asking shareholders to authorize more.
Personally I would rather authorize a greater share count than a reverse split with the current number of shares outstanding, but see no reason to do either at this time. If the share price is built up by having success in achieving approved patents and demonstrating efficacy in trials, at higher prices, in excess of $1 if funding is needed that roughly doubled the O/S to say 300 million shares, I would have no qualms about authorizing the total to go to say 750 million shares to give management great flexibility for negotiating. No company wants to issue nearly all the shares they have authorized. We currently have roughly 30% of what's authorized outstanding, I don't see that as a problem right now.
Gary
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