I think the reverse split and share repurchase program(s) will still take place. It’s just a matter of timing. During Q1 cc, Nasrat responded to a question regarding a small buyback that it won’t do much with 1 billion shares outstanding. He did say that profits will reach a point to sustain both R&D and an ongoing share repurchase program. At that point, shares will cost more, but it will also be less risky to allocate cash towards such a program vs taking from R&D.
He stated last cc that we are not staying on the OTC and the only way we would do a reverse split is to get to NASDAQ. We will not get to $5/share organically and he knows it.
I believe both a R/S and share repurchase program will be implemented within the next couple of years. I’d like to see a merger/acquisition take place after about 4 more years to really get sales/distribution going, clean up share count, pay off debts, achieve higher utilization of new packaging/storage facility, expand shifts, fill R&D pipeline with the next generation of needle movers as he calls them, international expansion, etc. We have a ton more to execute to support the share price as we move to NASDAQ. Maybe even one day we’ll have an investor relations group that does something. Looking forward to Elite ringing the bell down the road to start the NASDAQ trading session. Much to do before that takes place.
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