new filing nothing really changed we knew R/S a small one at that was simply for uplisting NYSE or Nasdaq Reasons for the Reverse Stock Split
The primary purpose for effecting the reverse stock split, should the Board of Directors choose to effect one, would be to increase the per share price of our Common Stock. The Board of Directors believes that, should the appropriate circumstances arise, affecting the reverse stock split would, among other things, help us to:
? Meet certain initial listing requirements of the New York Stock Exchange (“NYSE”) and/or NASDAQ;
? Appeal to a broader range of investors to generate greater investor interest in the Company and
? Improve the perception of our Common Stock as an investment security.
Meet the NASDAQ or NYSE Listing Requirements - Our Common Stock is currently listed on the OTC: QB (“ILAL”). Both the NYSE and the NASDAQ require a minimum trading price per share in order to list on either exchange. The NYSE and the NASDAQ Rules and Regulations require, among other things, that in order to list on their exchanges, the average closing price of a company’s common stock must be at least $3.00 or $4.00 per share over a consecutive 30 trading-day period.
Appeal to a Broader Range of Investors to Generate Greater Investor Interest in the Company - An increase in our stock price may make our Common Stock more attractive to investors. Brokerage firms may be reluctant to recommend lower-priced securities to their clients. Many institutional investors have policies prohibiting them from holding lower-priced stocks in their portfolios, which reduces the number of potential purchasers of our Common Stock. Investment funds may also be reluctant to invest in lower-priced stocks. Investors may also be dissuaded from purchasing lower-priced stocks because the brokerage commissions, as a percentage of the total transaction, tend to be higher for such stocks. Moreover, the analysts at many brokerage firms do not monitor the trading activity or otherwise provide coverage of lower-priced stocks. Giving the Board of Directors the ability to effect a reverse stock split and thereby increase the price of our Common Stock, would give the Board the ability to address these issues if it is deemed necessary.
Criteria to Determine Whether to Implement Reverse Stock Split
In determining whether to implement this reverse stock split and its specific reverse split ratio, the Board of Directors may consider various factors, including:
? the historical trading price and trading volume of our common stock;
? the then-prevailing trading price and trading volume of our common stock;
? the expected impact of the reverse stock split on the short- and long-term market; and
? overall prevailing general stock market and economic conditions.
Bullish
