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Re: price_and_volume post# 7290

Thursday, 03/14/2024 8:13:19 PM

Thursday, March 14, 2024 8:13:19 PM

Post# of 7480
Not many...mostly it's just PR bull shite. This isn't the case.

The minimal free trading outstanding common shares must be 1,000,000..and again..as noted by them:


If the Reverse Stock Split Proposal is approved by our stockholders and the Reverse Stock Split is effected, up to every 100,000 shares of our outstanding Common Stock would be combined and reclassified into one share of Common Stock. The actual timing for implementation of the Reverse Stock Split would be determined by the Board based upon its evaluation as to when such action would be most advantageous to the Company and its stockholders. Notwithstanding approval of the Reverse Stock Split Proposal by our stockholders, the Board will have the sole authority to elect whether or not and when to amend our amended and restated certificate of incorporation to effect the Reverse Stock Split. If the Reverse Stock Split Proposal is approved by our stockholders, the Board will make a determination as to whether effecting the Reverse Stock Split is in the best interests of the Company and our stockholders in light of, among other things, the Company’s ability to increase the trading price of our Common Stock to meet the minimum stock price standards of Nasdaq without effecting the Reverse Stock Split, the per share price of the Common Stock immediately prior to the Reverse Stock Split and the expected stability of the per share price of the Common Stock following the Reverse Stock Split. The Company and its stockholders to effect the Reverse Stock Split, it will hold a Board meeting to determine the ratio of the Reverse Stock Split. For additional information concerning the factors the Board will consider in deciding whether to effect the Reverse Stock Split, see “— Determination of the Reverse Stock Split Ratio” and “— Board Discretion to Effect the Reverse Stock Split.”



So...if things were to be effect today...they would not be able to up list on anything over a multiple of 500. They could choose to let Orin et all sell some options and pull some money from that and create more shares beforehand...but...lol...Orin does not like to be diluted and would not want to see the share price get close to his strike and neither would management. So the best case scenario for them is to have the share price rise and have a lower divisor. You have to remember the strikes...Orin's options are currently roughly .0035 from memory...and that does not cut it in my book.