I have recently written a lot about reverse splits and equity dilutions but I could not stop writing yet again about GBSN and DRYS. While GBSN has initiated yet another equity offering to earn at least $ 2.7 Million, DRYS followed the common route by reverse splitting it's stock yet again.
I am baffled that SEC does not take any action as these promoters are looting the common investors time and again in the name of compliance and this seems to be absolutely legit. These promoters in my opinion have no right to be in the market should be liquidated to pay up for the losses coughed up by the common investor who after getting stuck at the counter hope for one day when the company turns around so that they can recover their cost basis.
Pained to see that the regulator does not care either and these predictable trades take place and no body seems to care about it.