Could be an Uplisting coming to NASDAQ, things could be heating up for
NEUL.................
Proposed Consolidation
PLAINVIEW, NY, Apr 08, 2014 (Marketwired via COMTEX) -- NeuLion, Inc. ("NeuLion" or the "Company") (TSX: NLN), the leading enabler and provider of live and on-demand content to Internet-connected devices, has filed a preliminary proxy statement with the Securities and Exchange Commission ("SEC") in which, among other things and subject to the approval of the Toronto Stock Exchange, the Company proposes to consolidate its issued and outstanding shares of common stock by a to-be-determined ratio approved by the Board of Directors of the Company and accepted by the Toronto Stock Exchange (the "Consolidation"), with any resulting fraction being rounded up to the next highest number of whole consolidated shares of common stock.
Accordingly, at the Company's annual meeting of stockholders currently scheduled to be held on June 5, 2014 stockholders of the Company will be asked to approve a proposal authorizing the Consolidation, as well as other items of business to be presented.
Management of the Company believes that the proposed Consolidation could put the Company in a better position to qualify to have its shares listed on the NASDAQ Stock Market LLC, improve the perception of the Company's common stock as an investment security, and help increase analyst and broker interest in the Company's common stock.
As of April 7, 2014, 173,489,252 shares of the Company's common stock were issued and outstanding.
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