Jul. 3 at 6:27 PM
$BGL
For the record, Andrew’s preferred shares/incentive based shares would be adjusted to maintain equitable value in the event of a reverse split
I double checked the filing awhile back because that would have been a read flag for me if he could just reverse split to meet the targets
If we did a 100 for 1 reverse split and traded at
$25 tomorrow, then the
$25/share Andrew references to break even in his pay would effectively become
$2,500 per share
He would also only get 24,000 of the post-RS shares instead of 2.4M shares (1/100th) if he met all the adjusted VWAPs after the reverse split
There is zero incentive by management to reverse split
There is a huge incentive to get some of the Q3 catalysts referenced in the last investor presentation executed
BGL will likely receive a 180 day warning shortly - it’s not like a reverse split and/or delisting is imminent
We just need to grow our
$10M market cap before Christmas
If anything they presented on transpires, we’ll be good
https://www.sec.gov/Archives/edgar/data/2019435/000121390026040970/ea028512301ex10-2.htm
