InvestorsHub Logo
Followers 9
Posts 377
Boards Moderated 0
Alias Born 02/20/2011

Re: None

Saturday, 04/30/2011 9:10:11 AM

Saturday, April 30, 2011 9:10:11 AM

Post# of 15015
See below...This is copied from the proxy that mentioned the RS. Notice it says it "may" be necessary to trade at levels acceptable to NASDAQ. Obviously $4 is a long ways away but leads me to believe there may be some extreme news on the way before May 11th as others have alluded to here.


The Board of Directors believes that a reverse stock split may be necessary in order to increase the trading price of the Company's Common Stock to levels acceptable to Nasdaq, [which may help to facilitate having our Common Stock once again] listed on Nasdaq. The Board of Directors believes that a decrease in the number of shares of the Common Stock outstanding without any material alteration of the proportionate economic interest in the Company represented by individual shareholdings may increase the trading price of such shares to a price more appropriate for an exchange-listed security, although no assurance can be given that the market price of the Company’s Common Stock will rise in proportion to the reduction in the number of outstanding shares resulting from any reverse stock split.  

This is just my opinion don't buy or sell a stock based on my opinion do your own research.

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.