u/TonyDenaro

I wish all Chinese pump and dumps were investigated and prosecuted to this extent if illegal activity is found. Seize the money stolen by execs from retail traders in massive share issuance, often billions of shares for pennies per share, while the company and insiders rake in 10's of millions of dollars from investors duped by paid promoters and bot farms hyping up "naked shorts".
It's always the company selling shares.....$GDC $OST ➡️ Chinese Execs Indicted for Fraud

HRT is now involved in GDC beneficial ownership filings. Sometimes promoters in various tickers try to tout this as bullish. Some people are unaware HRT is a high frequency trading and market making firm. They are here to provide liquidity and make profits off the spread. They don’t care if the price goes down or up. They thrive on volatility and volume. Ask $YYGH how the last 5 days of HRT “bullish” headlines went. (see 3 pics attached)

Can $GDC implement another Reverse Split after Monday’s 1:250 goes into effect, or would it require a shareholder vote? Simple answer: No Vote Required.

There is a reason a company being registered in Nevada is an investor red flag 🚩.
There are numerous scholar and legal articles on this topic you can look up. Nevada laws gives companies broad powers and investors few rights. That is why problematic companies choose Nevada over Delaware. All investors should research this topic as it is both scary and sobering.

But getting specifically to the reverse split question, in Nevada under NRS Section 78.207 a shareholder vote is NOT required for a reverse split. The Board can just approve another R/S quickly via Board authorization for a reverse split that proportionally reduces both authorized and issued/outstanding shares. Here is the relevant Nevada statute. Yes, companies have pushed through R/S by Board vote only on both Nasdaq and NYSE American.

Does this mean $GDC is secretly planning another R/S if price doesn’t hold? Too early to make assumptions, but since people are writing articles claiming no additional R/S can happen without shareholder vote, it is important to understand that is a false thesis.

If there is interest I can write another article about how companies often slide around the Nasdaq limiting rules too, but let’s stay on topic with this one. Nevada = no shareholder vote required for R/S.