On March 14, Central Federal Corporation (GCFC) issued a press release announcing the shareholder approval of the 1-for-325 reverse stock split. According to the press release, “The Board is expected to make a decision within two weeks about whether to proceed with the reverse stock split transaction.”
I expect this transaction to be approved and completed within the month. There are still some risks involved, as Alexander at Wealth Junkie points out, but I believe the risks are over estimated by the market at this point. I look forward to analyzing the performance of this transaction when it is completed.