It was mentioned previously here that the real pro
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Posted On: 05/15/2020 10:48:09 AM
Re: riskreward007 #68580
It was mentioned previously here that the real problem is not the effect of Covid-19 on SFOR's business (as most businesses are affected), but going ahead with the reverse split (R/S). I agree.
You have to wonder about the judgement of SFOR management here.
Initiating a R/S right now DOES NOT HAVE TO BE INEVITABLE, and to me, it shows a blatant disregard for long-term shareholders.
Two questions for SFOR management: If they really care about SFOR shareholders, then:
1) Why did SFOR initiate a R/S on its own without letting shareholders first vote on this, (as this is the procedure in most companies)?
2) After Covid-19 changed everything, and SFOR realized that revenues were delayed, why didn't they cancel the R/S? Cancelling the R/S would be in the best interest of shareholders.
A quick check on the internet shows that A COMPANY CAN CANCEL A R/S:
Example:
You have to wonder about the judgement of SFOR management here.
Initiating a R/S right now DOES NOT HAVE TO BE INEVITABLE, and to me, it shows a blatant disregard for long-term shareholders.
Two questions for SFOR management: If they really care about SFOR shareholders, then:
1) Why did SFOR initiate a R/S on its own without letting shareholders first vote on this, (as this is the procedure in most companies)?
2) After Covid-19 changed everything, and SFOR realized that revenues were delayed, why didn't they cancel the R/S? Cancelling the R/S would be in the best interest of shareholders.
A quick check on the internet shows that A COMPANY CAN CANCEL A R/S:
Example:
Quote:
April 05, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – QUANTUM CAPITAL, INC. (PINKSHEETS: LTSN) announced today that its Board of Directors has decided to abandon and cancel the reverse stock split that was approved by the Board of Directors.
It is in the best interest of Quantum Capital, its shareholders and Investors to cancel the proposed reverse split of the common stock previously announced.
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