If GNVC is still planning to try to do the 1 for 10 reverse split I believe we'll see a 14-A soon, perhaps after the close today, as bad news is often dumped after the close on Fridays.
If terms specified in the Pre 14-A are unchanged I see no way this can pass, and perhaps the company really doing it so investors cannot claim they didn't attempt to stay on the Nasdaq.
While I strongly oppose this as proposed for many reasons, the biggest is that the only successful R/S's I've ever seen were ones where the company did the minimum R/S to accomplish their intent, and explained it very well to investors why it was needed. In short, I believe with solid preparation the company could have done a 1 for 2 and achieved over a $1 share price, certainly they could have made it with a 2 for 5. I also don't like the fact that on a percentage basis they've raised the O/S by 50%, even though they're bringing it down to 30 million shares.
I know of no investors who strongly support the company's position, but do know of some who'll vote for it as they greatly fear going on the OTC Exchange. Personally I'd rather be on a major exchange, but not at the cost most R/S's cause.
I believe that GNVC has done what's right to create long term growth, it will greatly be accelerated when TNFerade is partnered, regardless of the terms, but until that happens, other programs continue to advance, income increases, and eventually the Street will become aware of what GNVC represents.
Gary |
