I admit I am upset that the upgrades to the well are not proceeding as fast as we'd all like them and/or that we have not been kept up to date on well related news(contracts, financing, etc) BUT
The reverse is the one thing I don't see at these levels...they would have to be totally brain dead to do a reverse after this much erosion with so much to look forward.
The kind of reverse that works is when you got the NASDAQ fundamentals BEFORE you do the reverse but need the reverse for price ONLY repeat price ONLY.
Greg's law: A company that does not have the fundys BEFORE they do a reverse is doing it for one and only one reason--a license to further dilute a nanosecond after the commencement of the 1st trading day after the reverse. This is axiomatic and should be accepted as pure Gospel...and I'm not <ggg> or LOL here.
At 80 or 90 cents, with stability, and some positive earnings, a 1 for 6 or 1 for 7 reverse, with committment to reduce the authorized shares commensurately, would be the minimum acceptable level for a reverse..a 1 for 3 at a couple of bucks would of course be better.
Delivery of the earnings that we have been told are just waiting for us would of course be best.
But at .40 with 7million in the float, CSMA does not have the NASDAQ criterion (float value of $5 million) pre-split so it sure ain't gonna have it post split. No, Darryl, say it ain't so, cause a reverse here would be the final capitulation. I just don't see it.
TG still wondering why his most thoroughly DDed holding is performing near the worst in his portfolio. |
