It’s not a reverse split. There are two buckets of shares. 1. Shares which have been authorized by the board, which before any changes I think is 500M. And 2. Shares which are actually outstanding, which is about 23M. Outstanding means they are trading. Only 23M are trading, the rest of the 500M are just sitting around doing nothing. They are available if the company wants to use them for something. What they are doing with this proposal is reducing the 500M to I think 100m. Nothing happens to the 23M which are trading. It just reduces the available amount in the sitting around bucket. It won’t have any effect on shareprice or anything else. It’s like saying they are reducing by 400m theoretical shares they could have made outstanding in the future. They are only doing it because Delaware assesses taxes on authorized shares which are sitting around doing nothing. And since they are doing nothing, the company doesn’t need them. And they can always authorize more down the road with shareholder approval, if necessary. So basically this means nothing. Not something to focus on.
What you should focus on is the fact that their flagship subsidiary just turned a net profit. And that they now have a good IR firm, and acquisitions pending, and a lot of good news coming out about new customers and contracts. And they want to uplist to a bigger exchange. I think your share price needs to be $4 to uplist. So basically they are saying to shareholders, we believe the shares will be $4 soon so we can uplist. You do the math. 20 cents today. $4 soon. Ignore the traders and the bullshite on the OTC. Buy a lot. And buckle up.
