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Monday, October 18, 2021 7:00:03 AM
Allow me to explain ...
If we hit the 10 billion shares (ref the document) after the offering. An R/S would mean an O/S of 2.5 million to 500 million for Nasdaq. Anyhow, they can only R/S based on the NASDAQ $4 limit if the PPS hits 0.001. (then they could R/S at 1-4000 which equals $4). My take on things : there's news in the pipeline to get there or beyond it.
Out of the document :
* In August 2021, at our annual meeting of stockholders, our stockholders approved a reverse split of our common stock at a ratio of not less than 1-for-20 and not more than 1-for-4000 with our Board of Directors to have the authority to determine whether to effect a reverse split as well as the reverse split ratio. In addition, at the annual meeting, our stockholders approved an amendment to our certificate of incorporation pursuant to which the number of shares of common stock authorized to be issued by us can be reduced in a manner proportionate to the reverse split or to a lesser or greater degree. The share and per share information in this prospectus do not give effect to a contemplated reverse split of our common stock at a ratio to be within the above range to occur prior to this offering.
* Common Stock to be Outstanding after the Offering: 9,371,197,386 shares,
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