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Message: Re: Proxy vote!
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Feb 05, 2021 04:20PM
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Feb 06, 2021 08:25AM

No problem as far as the requirement for total number of shares goes, not that it was the issue of focus for jets911's post, but just to keep in mind the criteria for a minimum number of shares by the NASDAQ.

 

jets911:  "If we are on the NASDQ with the 10/1 reverse we go from 313 Mil shares to 31 Mil shares which in my view with so few shares will likely put more upward pressure on price on the NASDQ."

 

NASDAQ requirement:

Each company must have a minimum of 1,250,000 publicly traded shares outstanding upon listing, excluding those held by officers, directors, or any beneficial owners of more than 10% of the company.

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So, the only question seems to be, in the case of a 1 for 10 Reverse Split, just how many of the total shares are held by officers, directors, or any beneficial owners of more than 10% of the company... and I doubt that will leave a balance of less than 1,250,000 publicly traded shares.  

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