StonedSheep
10 년 전
when will the D come off, next few weeks?
Superwire, Inc. Announces Name Change To Cannalink, Inc. And Effects 1 For 50 Reverse Split, Plans To Develop CBD-Based Product And Provide Services To Emerging Companies In The Medical Marijuana And Industrial Hemp Sector
SAN DIEGO, Sept. 15, 2014 /PRNewswire via COMTEX/ -- Cannalink, Inc. (OTC Pink Sheets: SUPID) (the "Company"), formerly Superwire, Inc., announces that it has effected a change of name of the Company from Superwire, Inc. to Cannalink, Inc. and a 1 for 50 reverse split. The two corporate actions were approved by FINRA effective September 10, 2014.
The Company maintains its headquarters in San Diego, California and is managed by its new Chairman and Chief Executive Officer, Robert L. Plomgren. Commenting on the name change and reverse split Mr. Plomgren stated, "The change of name to Cannalink, Inc. reflects the Company's intention to enter the cannabis arena in two significant ways. First, the Company plans to develop and manufacture a cannabidiol (CBD)-based product for initial distribution to healthcare practitioners. In furtherance of this strategy, the Company completed the acquisition of the MigraSpray product line and assets for $300,000. MigraSpray is a sublingually administered formula for the effective treatment and prevention of migraine headaches, which is distributed through approximately 5,000 healthcare practitioners. The Company plans to use the MigraSpray technology to develop its CBD-based product and to initially market the product through MigraSpray's practitioner distribution platform. Secondly, the Company intends to offer investment banking, merchant banking and business consulting services to emerging companies in the medical marijuana and industrial hemp sector. The reverse split was necessary to position the Company to accomplish an effective recapitalization. In addition, within the next 30-days the Company intends to provide to OTC Markets the necessary disclosures and financial filings to have its Stop Sign removed. Further details of the aforementioned actions and business development plans will be more fully discussed in such filings."
Traderfan
10 년 전
I'm holding and adding if it gets close to .01. People are overreacting, sometimes amendments are listed as stock splits
Yes, that was what I was trying to explain yday.
The entire reason a reverse split is bad is the expectation of continued dilution and their ability to reset the price to do it all over again. There is no dilution here in the first place, none
Yes again, it seems in general people don't differenciate between certain RS situations. A RS in a company with 35 million shares out? Let's see that.
There is always the possibility of the shell being used for a really legit company, in that case, they may not want to be at 01 or 03. We could see a 1:10 split, also not bad, especially if we luck out and get a really nice company merging.
.01 is a $300k valuation, I will buy that all day long.
Yes that's exactly the point. At this market cap, how much downside should there be unless they completely screw up now and start to sell a billion shares into the market which is basically unthinkable in this stock. There could indeed be something brewing behind the curtain regarding a merger.
Heck we will all see, everything is possible in general down here but at this point in time I'm not worried, I rather think it could be something good for us. Time will tell.
SILVERISTHENEWGOLD
10 년 전
I'm holding and adding if it gets close to .01. People are overreacting, sometimes amendments are listed as stock splits. If it is a split it could possibly be a forward split which would be just fine. If it is a reverse split then there is a couple things to think about. 1- There is no dilution. The entire reason a reverse split is bad is the expectation of continued dilution and their ability to reset the price to do it all over again. There is no dilution here in the first place, none. The recent O/S change resulted in nothing being sold into the market so I am fairly sure that was an agreement taking place for a merger or something positive of that sort. 2- There is always the possibility of the shell being used for a really legit company, in that case, they may not want to be at 01 or 03. We could see a 1:10 split, also not bad, especially if we luck out and get a really nice company merging.
.01 is a $300k valuation, I will buy that all day long.
No one wants to sell below .0290/03 and neither am I.