Been spoken about b4 ad nauseam but I'd really like you raccoons to help me pin down the calendar date for possible reverse split -
From Cytori website:
As an alternative, Cytori believes that it is fully eligible to transfer to The Nasdaq Capital Market (“NCM”), in which case it would be entitled to rely on a second 180-day period (retroactively measured from December 1, 2015). During this second 180-day period, if required Cytori will be in a position to effect a reverse stock split to bring the bid price of its common stock above the minimum $1 threshold
-December - 31 days
-January -31 days
-February - 29 days
-March - 31 days
-April -30 days
-May- 31 days
This is 183 days.
Cytori needs to maintain 10 consecutive days above $1.00 starting the week of May 16th at the latest (hopefully this happens before with help of funds like Sabby ).
Assuming this timeline is correct, and we get to May 16th without holding $1.00 then the BOD has no other choice but to implement the R/S May 16th to gain Nasdaq compliance. (or BOD can opt to send us to pink sheets - not likely, unfortunately)
Question is - how strict is Nasdaq on the timeline here? Is it a futile effort to try and time this? I'd personally like to get out before the split decimates 30% off the share price and then jump back in.
CD, Spoke with Tiago yesterday for over an hour. He was gracious with his time and as forthcoming with his answers as allowed by law. Tiago is one of the few at Cytori that earns his salary.
I can't tell you how to time but I can tell you what I know that may help you. The R/S will be discussed at the annual meeting in May and results of vote will be revealed. As it takes time to get through all the regulations, Tiago had to do everything to prepare in advance. They have reached out to shareholders and have been available to discuss with those that reach out to them.
The cutoff date for the delisting is May 31 , so we have a very limited amount of time to organically get the price up over $1. Not impossible but I think unlikely. Cytori has 18,000 shareholders which means that there is a large number of retail investors in the stock according to CYTX. I pointed out that while that it is interesting ,unfortunately the majority of the shares are controlled by a few that will control the vote. Unfortunately that means that while I assume the majority of voters would be against the number of votes held by funds whose interest it is in to stay listed on NASDQ will prevail. The board is in favor of R/S, and that should not surprise you as they have never been in favor of anything that majority of shareholders want. That means that all that do not cast votes, votes go to the way board votes. The ratio of r/s has yet to be determined, they are hoping that it is not necessary but again I doubt that. The price of shareholder financing has yet to be set. As i have pointed out before as the offering states that warrants will trade on NASDQ under the symbol CYTXW, I would say that is a dead giveaway for R/S. I expressed my concerns that if there is no meaningful news that would lift ,pps and then shortly after R/S offering is made, why would anyone based on history through good money after bad. I expressed that weather we trade OTC or NASDQ it will not be a motivating factor in a deal or encourage more investors to buy. A deal has not been made and there is a reason for it and that is based on the information that is presented to potential partners. They are presented with non disclosures and are certainly privy to information that we are not yet they continue to be unable to close the deal. It makes no sense to me and I expressed this that with everything told to us by Mark and our Newest VP , that if there are indeed catalysts that will lift the pps and generate sufficient revenue to get to break even by 2018 then organic growth of the pps by trading on OTC will give the company credibility. A reverse split will only damage the reputation even more. Once again shareholders are being asked to take the losses, and to pay for the mistakes made by management, in the past and currently. Marc really blew the announcement on Ostio results as Fas has pointed and and that I discussed with both Marc and Tiago. when we met several months ago. As management has not done anything to help shareholders, like pay cuts for instance or receiving bonuses based on merit, that while it may hurt the company if they do R/S I do plan to move forward with class action. I want to know the truth about what has transpired at Cytori and while there is no financial benefit to doing so, there is a moral one and at this point in time that is a victory. Once the R/S happens the shorts will again feast and prosper at the same time shareholders will be asked to buy warrants and subscribe to a rights plan, based on what a promise that things will be better. sorry that does not fly, tough it out, trade otc, take paycuts, take merit bonuses and stop milking the cow dry. Use the ATM to bridge the gap to allow company to show us results. Results will raise the PPS. results will encourage shareholders to over subscribe to offering and give company funds to get to 2018 when we will be at break even. There is something rotten on Callan Rd.