QIND filed a schedule 14C which is regarding a RS. They will only do an reverse split simultaneous to an uplisting to the NYSE American exchange and it will only be to meet the share price requirements of the exchange. They are hoping that the roadshow prior to the uplist will raise the share price and that either the RS will not be needed or will be kept to a minimum. But the goal is to uplist and get on an exchange where the value of QIND can be realized. So, they had to prepare for the possibility of a RS in order to meet the minimum $2 share price.
This is not a typical RS which on the OTC is done to dilute investors or like a RS on a big board because the SP has been declining and they need to have a higher price to stay listed. Both of those are bad indicators.
In this case, a RS, if needed, will enable the company to get off of OTC which is a very good thing. But the desire is still to not have to do it or to keep it to a minimum. QIND is very undervalued. $150M is estimated 2023 revenue and a $35M MC!
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