Sadly I've seen things like this on numerous occasions over the years. So many companies go into the death spiral in their final months and will do anything to get their hands on the cash to avoid the inevitable. Its always horrible to watch and/or experience.
There is no doubt they have been reading posts here and this change reflects this. If only they engaged with shareholders along the way we would have told them what CRs would and what wouldn't work rather than their costly trial and error approach. Unfortunately they seem to dislike shareholders and treat them like a nuisance rather than a partner, a resource or heaven forbid recognize that shareholders are the actual owners of the company and therefore who management are required to answer to.
The SP is holding up better than expected so far today. Unless somebody knows something its hard to understand who would be buying at 0.009 or 0.008 today when there will be a billion new shares offered at 0.000000000000003 in coming weeks (okay slight exaggeration) but at least 1/3rd the price. Looks like somebody wants entitlements. Its only small volumes so hard to read much into it. There isn't always logic in some actions but worth watching.
BIT Price at posting:
0.7¢ Sentiment: None Disclosure: Not Held
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