CXKJ's forward split......
I was somewhat disappointed to see CXKJ do a forward split. That pretty much ends the chances of CXKJ uplisting to the Nasdaq anytime soon. I thought with the type of share structure CXKJ had the company was positioning itself reasonably well for an eventual uplisting. I was kind of really looking forward to that, especially when you see just how explosive some of these uplistings/IPOs have been recently (particularly with China-based companies).
I think a couple of months or so ago I remember seeing on the corporate website some references to the possibility of filing an OTCQB application. Based on the language in the parts of the 8-K dealing with the addition of the two new directors, I would assume the company is in fact going to file that application. Since the company already is a current SEC-filer, I would guess this is being done just for the increased market awareness that OTC Markets services might offer. Personally, I think that would probably be a waste of CXKJ's time/resources.
I am a little bit puzzled about why the company did not maintain the 1:5 ratio on its outstanding/authorized structure after the forward split (increase it to 2 billion authorized)......
current outstanding/authorized structure: 40M/200M
new structure: 400M/1B
By only raising the authorized to one billion shares, the net effect of this share structure change is that CXKJ has reduced it authorized shares by 50%. Which would seem to make it more difficult to actually make acquisitions (unless they plan to use their preferred shares for such purposes).
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