Hi agrocraig11, the reverse split parameters are undefined.
Does anyone know what the RS would be....from looking at past Press Releases I saw that in 2011 they approved the RS at a minimum of 1 to 2 and max of 1 to 10 for the RS. Not sure if this still applies right now or that offering from 2011 has expired.
Either way they would have to implement a high RS ratio for there to be any significant push since this is still trading in the 0.02 cent range.
The numbers you cite are expired. The currently authorized reverse split was approved by shareholders on Thursday, May 22, 2014, and details can be reviewed in the 2014 Proxy Statement (starting on page 25).
The basic gist is that any ratio can be used, with the stated goal of uplisting to an exchange. The spin-off of Antigen Express would then follow, with a cash-raising IPO and an (again) unspecified allotment of AE shares to GNBT shareholders. So using NASDAQ and $4 PPS requirement as a possible goal, you'd need a little wiggle room, so you'd have to reverse split up to ~$5 PPS. Assuming that through a variety of nonspecific accomplishments of Rapid Mist/Oralyn/AE-37, the PPS could organically grow to $0.05 (more than double what it is now), you'd need a 1:100 reverse split.
And if IFS and BUTS were candy and nuts, we'd all have a Merry Christmas.
Hope this helps. All of it is my opinion only, and I would love to hear any other takes on the RS.
"There are three kinds of lies: lies, damned lies, and statistics."
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