"The Reverse Split/Share Reduction Amendment was approved by the Board and the Majority Stockholder with the goal of increasing the chances of the Company successfully listing the Common Stock on The NASDAQ Stock Market, particularly The Nasdaq Capital Market. The Company believes that, given its current size and balance sheet position, it would meet all of the quantitative listing requirements for The Nasdaq Capital Market, other than those relating to the minimum bid price for listed shares (which is $4 per share), and that a Reverse Stock Split in the appropriate ratio would increase the likelihood that it would meet the quantitative requirements relating to share price. The Company further believes that listing on The Nasdaq Capital Market would enhance its visibility, institutional investor profile and commercial credibility. Of course, there can be no assurance that the Reverse Stock Split will allow the Company to meet the quantitative requirements relating to share price, that the Company will achieve or maintain compliance with any of the other requirements or that its listing application will otherwise be successful."
more: http://www.dailyfinance.com/company/ambient-corporation/abtg/nab/PROXY/11618164/html/sec-filings
:)
Thursday, February 17, 2011
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment