Thank you PG for your post above and the question in Post #1. We have replicated your post below as the question:
Good Morning, Jerry,
Thank you for the Q&A of 5 November. It was very informative!
There appears to be some concern by shareholders that a R/S is in the future for XUN. Would you please advise if the company is planning a Reverse Split?
Thank you in advance for your time.
Regards, PG
Question: Would you please advise if the company is planning a Reverse Split?
Response: The Company has no plans to complete a reverse stock split now or in the near future. Right now it does not make any business sense to have a stock reverse split. It is an administrative nightmare to do a stock reverse split.
A stock reverse split is a complicated process which requires the Company to file a Preliminary Information Statement (Pre 14C) to the shareholders of the Company, which also is subject to comments from the SEC. After all comments are cleared with the SEC, a Definitive Information Statement (DEF 14C) is filed with the SEC. Depending on the stock ownership, a shareholder vote must be taken, either by consent or by proxy vote. Once the DEF 14C is filed with the SEC, there are many more steps afterwards such as obtaining approval from FINRA, obtaining a new CUSIP number, etc.
A stock reverse split is not something that happens over night and may take many months before it becomes effective. If a stock reverse split was to occur, it would be completed on the basis of what is in the best interests for the Company and the shareholders of record.
We thank you for your interest, support and faith in the Company.
Respectfully, Xun Energy, Inc. Jerry G. Mikolajczyk President and CEO
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