Answer from IR re reverse split Hi Simon,
I'm curious why you would call potential consolidation "madness"?
The share consolidation is part of our effort to make the stock more attractive to a broader set of potential investors. First, many institutions will only invest in marginable securities, which typically means shares with a minimum price of $3 to $5 depending on the institution. Second, a higher share price ensures that we would meet certain minimum listing requirements established by major exchanges in the United States - opening the opportunity for us to seek such a listing.
Overall, Supreme views the consolidation as a net positive event for shareholders. While some concerns have been shared (particularly in online chat forums), the vast majority of the feedback I've received has been positive thus far.
I'd like to hear what you think.
Thanks,
Scott