Well it appears I have been wrong. I earlier stated that MCOA management would support the share price during the R/S split through releasing the kind of news investors want to hear about now, which is how our products are selling in Europe.
What we currently have is a mess. The shares are freefalling to the point where the R/S will not accomplish what management wants, which is a stable base at a higher price. They are realizing this, and thus a "temporary pullback" of the reverse split from August 1 to a tentative near-term future date is now in affect. But what date will work best?
No doubt, they originally wanted to include a stable R/S in the quarterly report scheduled for August 15. Can they still coordinate the trifecta of:
1) good sales/earning news
2) creation of HempSmart on European exchange
in such a way to stimulate positive interest in the company. They have a 50% ownership in the California "buds delivered to your home" business in part because of their ability to handle & spin publicity. They better be able to handle this right now over the next 2 weeks.
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