I think it means a 10 for 1 reverse split will be announced shortly. Makes sense for the up listing. That authorized value is pretty much meaningless. It is the number of shares multiplied by the par value. Overall I think it is good news, same basic shares authorized structure just divided by 10.
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.