carusso
3 weeks ago
Why are they relying on Colorado law to exclude shareholders from their decision to effect yet another Reverse Split, when their business HQ is in Ft. Lauderdale, FL?
And why a 1:60, when they only just completed a 1:100? Does the company have NO financial value at all, that these accounting tricks are necessary?
Final comment: it is nauseating when CEO’s don’t reduce their own shares, but just stick it to everybody else.
They should have agreed to be delisted from the NASDAQ, until such time as organic growth earned them a chance to rejoin it. All the verbiage about increasing liquidity, blah blah blah, rings hollow when the are reducing the OS from 24 million to 39 thousands. What a farce! Does he read his own writing?!?
hssbwwmp
4 weeks ago
Are we om for another RS or can SBFM get back over $1 some other way (see below from the 8K today)?
The last time they did a RS and Warrants seemed a bit shady and the Nasdaq was "concerned" about how they did it.
Item 8.01. Other Events.
On June 28, 2024, Sunshine Biopharma, Inc. (the “Company”) received a notification letter from The Nasdaq Stock Market LLC (“Nasdaq”), informing the Company that the Nasdaq Hearings Panel has granted the Company’s request for an exception until August 26, 2024, to regain compliance with Nasdaq’s minimum bid price requirement under Listing Rule 5550(a)(2).