RE:Reverse split ?
Onenessofall121 wrote: Only if it's bringing us to the Nas though right ? Why else would we need to do this if we are pulling in a million plus a month ?
the following are the outlined reasons a reverse split might occur:
Background to and Reasons for the Share Consolidation
The Board believes that it is in the best interests of the Corporation to reduce the number of outstanding common shares by way of the Share Consolidation. The potential benefits of the Share Consolidation include:
1. Preparation for potential US listing: the Corporation is looking to prepare for a possible future listing on NASDAQ or other senior US stock exchange. The higher anticipated price of the post-consolidation common shares may help make the Corporation eligible for such a listing.
2. Greater investor interest: the current share structure of the Corporation may make it more difficult for the Corporation to attract the additional equity financing required to maintain the Corporation or to further develop its products. A share consolidation may have the effect of raising, on a proportionate basis, the price of the common shares, which could appeal to certain investors that find shares valued above certain prices to be more attractive from an investment perspective.
3. Raise additional capital at a higher price per share: the higher anticipated price of the post-consolidation common shares may allow the Corporation to raise additional capital through the sale of additional common shares at a higher price per common share than would be possible in the absence of the Share Consolidation.
4. A tighter share structure could potentially make the Corporation less attractive to computerized algorithmic trading. This in turn would allow the share price to rise with less downward pressure from day trading.