There is probably going to be a reverse split so that after the shares are reduced in number, they can put in a private placement. This means that they will add more shares, but 999 out of a 1000 they are restricted.
They wouldn't announce the details, probably because if the private placement falls through, they would need to look elsewhere.
Look at it this way, right now nothing can happen until the funds are raised. If the funds are not raised, then nothing happens. If nothing happens, the stock will stagnate. (look at GZON thread)
However, if a reverse happens, and this causes the financing to be raised, then you have a chance for "something to happen".
So I guess you have to decide if you want 100% of nothing happening, or 25% of a possible "something"
Thats what it boils down to, to me.
You have to remember that Blue Sky statements do not protect OTC BB companies, so if they say we are going to blah blah blah, and then they don't come through, they risk litigation.
Sometimes less is said to protect the investor as much as all other business negotiations.
I doubt ATGI could deal with a nuisence lawsuit at the moment. |
