RE:We're screwed unless the AMF stops this ...Thanks for sharing this Gobbs.
So what they are saying is that the SP will remain at approximately .01521 till the conversion date (.01521 x 1000) $15.21 cdn/share which is the target for Nasdaq. How can they foresee this? What if the SP rises to .025 or .03? How can they determine the reverse split ratio? I guess they will controll the SP?
Also, 25B/740M = 33.8 times, so technically, we should be trading at .51 (.01521 *33.8). Why
are we trading at .05?
Lastley, our market cap is currently 40M! This is the equivalent of our revenues...this is insane.
Lots I don’t get!
GoBBs wrote: At the Meeting, shareholders will be asked to consider a special resolution (the "Consolidation Resolution"), authorizing the Board to amend the articles of the Corporation to effect a consolidation of all of the issued and outstanding Common Shares on the basis of a consolidation ratio to be selected by the Board within a range between seven hundred fifty (750) pre-consolidation Common Shares for one (1) post-consolidation Common Share and one thousand two hundred fifty (1250) pre-consolidation Common Shares for one (1) post-consolidation Common Share (the "Share Consolidation"), effective as at the discretion of the Board. For illustrative purposes, as of the date hereof, the number of Common Shares issued and outstanding would equal 27,627,473 if the consolidation were to be effected with the seven hundred fifty (750) for one ratio and 16,576,484 in the case of the one thousand two hundred