A grant of discretionary authority to the Board of Directors of the Company to implement a reverse stock split of the outstanding shares of Common Stock on the basis of one post-reverse split share for up to every 18 pre-reverse split shares (for example, if you own 18 shares now, you will own 1 share after the reverse stock split) to occur as soon as practicable, with the exact time of the reverse stock split and the exchange ratio of the reverse split to be determined by the Board of Directors of the Company. A proposed 1-for-18 reverse stock split of the outstanding shares of Common Stock would reduce the outstanding shares of Common Stock from 15,409,999 shares to approximately 875,000 shares
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10645241
Due to the lack of liquidity on the OTC, especially in higher priced stocks (unless the deal is absolutely incredible and their is an investment bank involved), it's usually best to sell before R/S. JMO, GLTY
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