Just read the snpw tweet outlined below on another
Post# of 10630
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The current price is less than $2 - a 50% plus loss in valuation post reverse split. The reverse split has had a disastrous negative impact on shareholder valuation irrespective of no dilution on the almost 1 billion new shares created as a result of the reverse. Contributing factors include:
. Post shareholders were reduced to 250 shares for every million shares owned pre split. It’s just not exciting to hit the home run with such a reduction.
. The mere fact that roughly one billion new shares were created for potential future use is a go forward risk for potential shareholders.
So while the company tweets the below referenced message, it doesn’t mention the already realized 50% price decline post split and does not mitigate the potential future dilution of the recently created almost 1 billion new shares.
"We completed a 4000-to-1 reverse split and want to reassure everyone that none of the shares have been used. All shares remain intact with no dilution. #ReverseSplit #Shareholders"
$SNPW
My opinions.
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