Read the SECURITIES PURCHASE AGREEMENT https://www.sec.gov/Archives/edgar/data/1520668/000144586615001446/exhibit101.htm exhibit101.htm SECURITIES PURCHASE AGREEMENT Look on page 16 5(a)(d) Reverse Stock Split The Company will use commercially reasonable efforts to execute a reverse split (the Reverse Split) of its outstanding shares of its Common Stock with a view to satisfying the minimum bid required for the initial listing of its Common Stock on the Nasdaq Capital Market which shall include the filing of a preliminary proxy statement with the SEC within 60 days of the Tranche II Closing Date There is a lot more in that paragraph. I would suggest you make a hard copy of this document for future reference The subject of the reverse split has been discussed several times on this board. A bit of reading and DD would have found this information, There are several board members that post very informative information: The Rainmaker Ilhabela777 crookedneck crudeoil24 and several others. But don't ask them to do your work. Reads their posts and follow to where they lead you.