As for the $4.00 share price, I smell another reverse split.
Yeah, I've been thinking the same thing, Dave...but look at it this way. After the "last" Reg S dilutes the stock, how many shares will be out? 10 million? Perhaps 12 million at the very most? With a stock price around 5¢ is my guess, unless Caye really buys a lot of the debenture stock.
So, now the company pulls another reverse split, say 10 to 1 this time. That takes the share price to 1/2 and the share count to 1.2million. An awful long way to $4, and the Small Caps requirement of a million shares in the float will be difficult to attain, if the company still wants to hold 50%+.
So, I don't see another reverse split here... The wild card is what is going on that we don't know about...more Reg S sales?
I have to wonder, though...what is Oilex doing with all this money, anyway?
Rick |
