RE:wasnt approval for a reverse 5:1 split voted on in nov2018?give it a rest 541.
They didn't have to RS back in July 2014 but I see that the share price was taken down to 0.02 in Apr 2014 so I think the main reason would be to ensure the share price is such that the company won't get delisted.
Again, RS is only necessary to avoid delisting. That is B-A-D. Like ACB did a 12-1 when it was under a buck to avoid getting delisted. If not for this purpose then it is done to get back control/less hands or to meet listing requirement for a bigger exchange (e.g. NYSE requires min. $5 a share).
There is absolutely no risk of FIRE getting delisted now. The share count is very manageable especially for a company looking for growth. Just to give you another example, B2Gold (BTO/BTG) is a senior miner with 1.05B shares out. NO PROBLEM. Equinox (EQX) is an intermediate miner that did a RS to get listed on the NYSE i think in 2019 and have doubled in price since then.
Don't go cuckoo thinking about this deal obviously it's wayyy over your head. The take away is smart money in is G-O-O-D.