Nasdaq...$4....Amex $2 to $3
Up-listing to a National Exchange is one of the corporate goals for 2017. We view listing our shares on a senior stock exchange as an important and positive step in a company long-term growth strategy.
One of the quantitative requirements for initial listing on a senior exchange is that the closing price of our stock must meet a minimum listing requirement. Properly executing a reverse stock split allows it to fulfill this crucial price requirement and reap the benefits of being on a senior exchange in the timeliest manner possible.
The higher stock price resulting from the reverse stock split and successfully achieving the up-listing will make a stock more attractive to a wider investor base. Currently, many institutional and retail investors are restricted or prohibited from owning a Company’s shares for a number of reasons, including our trading on an OTC market and a lower stock price. A reverse split will help open the opportunity for ownership of shares to new investors and is therefore a good thing.
Furthermore, a stock will be in a better position to attract Wall Street analysts to cover our Company’s progress with a higher stock price. The inherent increase in visibility associated with analyst coverage can also translate to greater liquidity for shareholders, which we believe will also increase shareholder value.
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