High Wire Networks Inc (HWNI)

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Even though SGSI approved a possible R/S if needed, it is not uncommon for a company to approve a R/S but not execute it if it becomes unnecessary.

SGSI 14c "The Board reserves the right, notwithstanding shareholder approval and without further action by shareholders, to elect not to proceed with the reverse split if the Board determines that the reverse split is no longer in the best interests of the Company and its shareholders."

An example:

Plug Power shareholders approve reverse stock split
By Barbara Pinckney Jul 2, 2013, 6:54am

https://www.bizjournals.com/albany/morning_call/2013/07/plug-power-shareholders-approve.html

Shareholders in Plug Power Inc. approved a reverse stock split on Monday intended to keep the Latham, NY fuel cell manufacturer listed on Nasdaq.

Plug makes fuel cells that power forklifts that large companies including Walmart, Procter & Gamble, BMW and Ace Hardware, use in their warehouses.

The company's stock (Nasdaq: PLUG) has been out of compliance with listing rules since last October, for failing to trade above $1 a share.

The stock closed on July 1 at 36 cents a share.

The company was given until this October to raise the price above $1 a share and keep it there for at least 10 consecutive business days.

The measure shareholders approved on July 1 allows the Plug board of directors to do a reverse split within a range of 1-for-10 to 1-for-25.

That means shareholders would receive one share for every 10 to 25 they now own, with the value of each share increased accordingly. The board has one year to determine how to proceed.