Jerry was talking about maybe doing a low ratio (1 for 2 approx.) split if the stock was at $1 and needed to be at $2 in order to move to the AMEX board. We can't know for sure where the company will be at that time since so many things are possible in a year and a half from the point we're at now. Even major international deals are likely to be inked in that time frame, so it's anybody's guess. As long as the company is doing great, it doesn't matter because your portfolio value will climb even faster once on the big board. I believe the preferred stock is included.