Revive Therapeutics Ltd (RVVTF)

[ReikoBlack]

According to Revive's most recent Quarterly Financial Statements filing on May 30, they have an unlimited number of common shares authorized.

If the company has run out of authorized shares it cannot sell shares (technically not even in a convertible loan). So it has two options :
A) increase authorized shares , normally allowed once a year and needs a shareholder vote.
B) do a reverse split so authorized share count stays same but there are now half as many issued (if 2:1 reverse split) allowing those “new” shares to be sold and issued.

If the re is specific use for the funds it can work, or if it is associated with NASDAQ listing but 9 out of 10 just means more , faster dilution.

Option A sometimes sees companies with 10s of billions of shares (BIEL comes to mind)