ZAP (fka ZAAP)

[WOLDUMAR]

Steve Schneider: 1) Yes there were several questions that came in from the shareholders. Question was raised about the reverse split that will be voted on at the shareholders’ meeting on June 20th, 2011. Why do we need to do a reverse split and how much will the split be?
Answer: There are a number of reasons ZAP is considering a reverse stock split. These reasons are outlined in detail in ZAP’s recently filed proxy statement. One significant reason is that ZAP plans to list its shares on NASDAQ in the second half of 2011, pending approval of the reverse stock split of course at the shareholders’ meeting and approval of ZAP’s Board of Directors. In order to do so, ZAP would need to affect a reverse split to satisfy the minimum share price of US$4 required for listing on Nasdaq. The ratio of the reverse split will depend on ZAP’s share price at the time we affect the reverse split. "REALLY STEVE ARE YOU FROM ANOTHER PLANET .. WHY WOULD ANYONE BUY THIS AT 4.00 IMO"
http://www.zapworld.com/transcript-q12011earnings-webcast