As I said: this news is really that they have just been BOOTED off the NASDAQ Global Market which is the large prestigious market to the junior NASDAQ Capital Market.
Of course that's better than getting kicked to the OTC but it's still an insult IMHO. The percentage of companies that get booted off the Global and make it make is pretty grim IMHO.
Really not a big deal though. IMHO the company never belonged on the Global anyway and this won't affect trading.
However, what I find OUTRAGEOUS is a line in the press release saying the move to the junior exchange is "At the Company's request" LOL! Of course if they didn't "request" it they'd be on the pink sheets this morning.
These guys are good!
I think they'll need another $5M to get to July so who knows what the FD share count will be by then. We are already over 100M and you can bet EK will chow down on some more RSUs and imagine yet another deal with 200% WARRANT COVERAGE lol. Needless to say I think we might be looking at a 1 for 20 or 1 for 30 reverse split.
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