TSXV:RHT.H - Post by User
Comment by
mulinekon May 05, 2018 8:26am
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Post# 27986666
RE:Reverse split not happening
RE:Reverse split not happening In my post I DIDN’T suggest we need reverse split. I simply responded to ELJORO post in which he mentioned
“Again, I sound like a broken record. The company confidently expects to meet all listing requirements for the NASDAQ later this year. That implies a minimum share price of $3US. ”
So, if they are serious about meeting Nasdaq requirements and moving to this exchange this year they can only do it by reverse split. Please check IMV.V – how they did it. They have over 137 mlns shares and split them 3.2 to 1 into bellow 43 mlns float (check latest news. – they did it during annual meeting on May 1st). For some reasons the decided move would be beneficial for the company (may be , just may be it’s easier for biopharmaceutical company to get partners, funds or simply be acquired – they must have their own reasons). And stock acted in positive manner – at least for the time being.
So, let management do their job and find the right time and means to get to Nasdaq. And I hope they will simply wait till company get strong enough to go through the jitters of uplisting and trading on not too forgiving Nasdaq