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After reading annual report, I knew two things.
First, all loans ACAS breached are unsecured loans.which lenders have no right to sell ACAS's assets.
The book value for ACAS is 20+ each share as calculated by ACAS
But the 1-6 reverse spilt is really a big concern.
Almost all stocks I tracked which had reverse spilt failed at end, such as NT, JAVA, BBX, BFLY,ext.
After rising 10x from bottom, if the managerment is still asking for reverse split, they must know something not good.
Currently, the stock price is more than $3, which is much above $1 required min share price.
I have to ask why mangerment still asks for reverse split?
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