With all due respects dexx, there are some serious errors in your post. First, the shell did have value, revenues from the Reg S of approx. $500K.
Second, the stock had value, intrinsically of at least 1/2 cent.
Third, CVIA was a reporting co. Those grease monkeys at WOTD don't have to do anything more, they get an instantly public company.
Fourth, we don't dispute the reverse. It was the timing of it, at .02 . For Pete's sake, no one believed that and ole prescription drug lord Jack did everything to convey the message that a reverse was to happen well after the merger.
Fifth, I never try to second guess our legal system, but the tape will speak for itself. The hit that the stock took now ain't nothing compared to the dilution effects when Jack and crew start printing shares en masse into the float.
We can quibble on KAA's numbers of 96% but the gist is there. We have diluted over 50 % already...and the reverse hasn't even happened.
We all know the risks of BBs but blatant acts like this demand an investigation.
I for one don't care how rich the lawyers get. You know why? Because every dime they get they will get from WOTD. And don't say they'll get it from the shareholder base because that will truly be chump change by the time the reverse plays out.
Reverse splits of this magnitude are done to get quick money thru dilution. Anyone who believes otherwise is deluding themselves.
TG |
