When do I think Ken will do a reverse split? To my knowledge there is no limit to how often or when a company can R/S, I'm not certain on this. However, I believe he will do it in order to maintain compliance with the OTCQB standards of $.01 closing price for 10 consecutive days.
When does MDCN have to maintain $.01 to stay compliant with the OTCQB listing? Well, we first closed below $.01 on May 14. According to the OTCQB ongoing requirements listed below...MDCN has 180 days from May 14 to maintain compliance.
"2) Have proprietary priced quotations published by a Market Maker in OTC Link with a minimum closing bid price of $0.01 per share on at least one of the prior thirty consecutive calendar days. In the event that the minimum closing bid price for the Company’s common stock falls below $0.01 per share, a grace period of 180 calendar days to regain compliance shall begin, during which the minimum closing bid price for the Company’s common stock must be $0.01 or greater for ten consecutive trading days"
This 180 day grace period would fall around Mid november. Seeing as MDCN would have to hold a closing price for 10 trading days(2 weeks of time). I would suspect Ken(IF we NEED to) to do an R/S in mid/late october.
I think its safe to assume that the pps appreciates from here, so long as Ken follows through with his vision in Michigan. But is it enough to bring MDCN above $.01 on its own? We have a solid 4 months before threat of being delisted looms over us. Does Ken even care if we delist off the OTCQB, I definitively believe so.
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