"Now that the Reverse Split has been completed, we will file an Amendment to reduce the A/S once a few other items are completed such as the QB application".
As part of its ongoing effort to strengthen the company and position it for long-term growth, DPLS recently completed a 1-for-200 reverse stock split.
While reverse splits can sometimes be viewed cautiously, this move brings several key benefits to our shareholders.
By consolidating the share structure, DPLShas reduced the number of outstanding shares, creating a more manageable capital base and improving the company’s ability to attract new investors, market makers, and institutional interest.
The split also positions DPLS to meet listing requirements for the OTCQB Market, while signaling that the company is entering a new phase focused on growth, revenue generation, and scalability.
This restructuring lays the foundation for stronger market credibility and improved shareholder value
Requirements for OTCQB listing include that the company:
(i) must have a minimum bid price of $0.01 per share as of the close of each business day for each of the previous thirty calendar days prior to its application date
and
(ii) once quoted on the OTCQB, the company must maintain a minimum bid price of $0.01 per share as of the close of the business day at least one time per thirty (30) consecutive calendar days.
To Be Eligible for OTCQB, Companies Must:
Meet a minimum bid price test of $0.01.
Securities that do not meet the minimum bid price test will be downgraded to OTC Pink
Submit an application to OTCQB and pay an application and annual fee
Submit an OTCQB Annual Certification confirming the Company Profile displayed on otcmarkets.com is current and complete and providing additional information on officers, directors, and controlling shareholders
Ongoing Requirements
Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days
Post current SEC disclosure on EDGAR, or for companies that do not file on EDGAR, post current SEC disclosure on the OTC Markets website