RE:RE:RE:RE:RE:so far so goodI never said anything about a delisting letter.
I did say that ONC is on course for a reverse split. They will do this on their own initiative, without being forced into any actions by NASDAQ.
It will be a voluntary move to raise the share price to something around $10.
It's much easier to price a placement of 1 million shares at $10 each than it is to price a placement of 10 million shares at $1 each.
Same raise, same market cap, same resulting negative affect on shareholder value.
But the $10 adds some percieived legitmacy to the company (imagined, not real) versus the embarssment of rasing at $1.