"....shareholder approval to effect a reverse stock split."
The Company has obtained shareholder approval to effect, in the Board’s discretion, a reverse stock split. By December 24, 2017, the Company may effect a reverse stock split because it believes that such an action may:
1. Facilitate potential higher levels of institutional stock ownership where investment policies generally prohibit investment in lower priced securities.
2. Create a capital structure that better reflects a potentially profitable company.
3. Better match the number of shares outstanding with the size of the Company in terms of market capitalization, shareholder equity, operations and potential earnings.
4. Better enable the company to raise funds.
The Board shall maintain the right to elect not to proceed with the reverse split if it determines that this proposal is no longer in the best interests of the Company’s shareholders.
