I have to agree on it, otherwise doing RS, 2 months back has not made any sense yet.
I think Nasdaq launch requirement is minimum 45-50 million $ market cap.
with this new offering if they can raise 1.75 $ price X 29 million stock= 50 plus million market cap!
guess where that 1.75$ price is 29 million stock raise plan is coming from?
If we connect the dot looking forward it's very easy and doable.
But till they confirm someone gave them 30 million $ minimum it's all speculation.
Although they advertised it they wanted to launch back to Nasdaq while taking a RS vote in Feb 2018!
Page 7 , 02/14/18 PRE 14A
In determining which reverse stock split ratio to implement, if any, following receipt of stockholder approval, the Board of Directors may consider, among other things, various factors, such as:
• the historical trading price and trading volume of our Common Stock;
• the then-prevailing trading price and trading volume of our Common Stock and the expected impact of the reverse stock split on the trading market for our Common Stock in the short- and long-term;
• our ability to possibly regain our listing on The NASDAQ Capital Market;
• which reverse stock split ratio would result in the least administrative cost to us; and
• prevailing general market and economic conditions.
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