Well… now that Mr. Steven Samblis has
3 (4 as of 10/20/14)reverse splits under his belt for his public company PNCH(D), there is now a pattern based on actual historical data that can be used to forecast possible future reverse splits. Take a look at the below chart (click to enlarge). This chart could represent a fairly accurate forecast of when, and how large, a future reverse split may be. This chart utilizes the actual historical data, and projects out possible dates and share reductions for the future.
Now of course Mr. Samblis will dispute this data, and most likely dispute the entire concept of another reverse split… but how did his assertions about not going to do a reverse split regarding the most recent reverse split work out ? Numerous post after post assuring the investors he would not do a reverse split, even going so far as to call those who would suggest such bashers, and liars. If Mr. Samblis’s credibility was questionable before the 3/27/14 reverse split… there is certainly NO question now. UPDATE: as of 10/20/2014 he did a 300-1 Reverse-split !
For over a year this company could not get anyone to buy the stock over a penny (or much over .0003)… what now makes this company worth 2-3 cents a share? Given the history of reverse splits, and the overwhelming likelihood of another one… WHO is going to take a chance on this company, and more importantly… a CEO with less than zero credibility. Even if the company were to have revenue (which it hasn’t for quite some time now), its unlikely investors would take a chance on it with so many other companies out there that actually have revenue and some are even profitable. That coupled with factual data demonstrating the CEO has been reckless with the truth on more than one occasion, about serious issues such as not going to do a reverse split. How could anyone trust ANYTHING Mr. Samblis says… or, puts in writing for that matter. And… Mr. Samblis has not even had the intestinal fortitude to face his investors over the reverse split yet.
Come on Mr. Samblis… face the investors !