Update
$Cemtrex (CETX.US)$ Cemtrex Board Approves 1-For-35 Reverse Stock Split To Begin Trading November 26 Under Same CETX Symbol
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TheDylz : buy 1 share now get full share later lmao judging by the news release...35x your investment why not even though its peanuts
Teddy123 : Stuck with this still
Trytosaveabit OP TheDylz : You got that backwards! For every 35 you have now! If you hold through reverse split you will have 1 share! So 350 shares today! 10 shares on the 26th! Hehehe
TheDylz Trytosaveabit OP : yes i know...lol im saying if you buy 1 share now and you have no shares you will have a full share after the split...the press release says no fractional shares will be issues but holders who would have recieved a fractional share will recieve a full share...i didnt get it backwards u just thought i did lol
Trytosaveabit OP Teddy123 : You and a lot others!
ThatTimGuy : The overall amount of shares would go from 25million to about 700k then., right?
Trytosaveabit OP TheDylz : I misunderstood! But no it don’t work like that either! If you have one share they will give you money instead! And if you have 36? They may give you two! But you gotta be careful with that! FGF did that! Then after R/S they changed their mind! And a lot of people got stuck with a short position! And many never shorted a ticker in their life! So if they didn’t meet minimum requirements to be allowed to short sale? They either had to sell the short position even at a loss. Or get their account closed! Or like in my one broker! They had to deposit minimum of 2500.00 to keep account open or sell at loss! And a lot of beginner/retail traders don’t have a extra 2500 laying around to deposit! So they took the loss! So be very Leary of the rounding up! Unless like you have like 8 shrare short of the 35 or next 35 up!
Trytosaveabit OP ThatTimGuy : I didn’t do the math yet? But that sounds about correct!
thanant ThatTimGuy : I am new here and do not have more details about the vote. Is there any dilution?
Trytosaveabit OP thanant : The float will actually become much smaller after R/S! But then after there will be the chance of a offering/dilution? But that’s not a definite! But for now it will be a much smaller FF after! Hope this helps? GL
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