Aug. 14 at 8:20 PM
$PHGE current price 15 cents
The shareholder special meeting is scheduled for August 25th to approve a maximum 20-for-1 reverse stock split. However, if the stock price drops below
$0.10 by that date or lster, the post-split price will sit at
$2.00 or lower.
To avoid this, the board will likely postpone the meeting. A total price collapse before August 25th leaves the board with only one viable fix: adjourn the meeting, draft a brand-new proxy statement requesting a higher cap—such as 1-for-50—and wait another 45 days for a new shareholder vote.
Or go with 2$ with a small float (600k shares) and expect 1000% gains after RS.
After RS,
