No RS per the company: “No Reverse Split. One
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Posted On: 04/16/2018 11:01:18 AM
No RS per the company:
“No Reverse Split. One solution to increase our stock price above the $0.01 minimum is to do a reverse split of our outstanding shares, which we indicated in our January 12, 2018 8K filing we had under consideration. After further review, we have decided that a reverse split is not in the best interest of our shareholders and we have made the decision NOT to proceed with a reverse split of our shares to achieve a higher closing price to maintain the OTC: QB status. We believe maintaining the liquidity in our shares is more important than the QB listing and our access to the equity line. If we do not achieve the 10- day closing price of $0.01 or greater before April 8, 2018 we will revert back to the OTC
K status which we have had previously. Other than the access to the equity line financing, we do not believe this status will impact our ability to develop our refinery project with other debt and equity providers. If we lose our QB status, once we achieve the minimum stock price for the requisite number of days, we can apply again for OTC: QB status.”
This is per the March shareholder letter, which was after the January 8k. I can repost if there is further comfusion
“No Reverse Split. One solution to increase our stock price above the $0.01 minimum is to do a reverse split of our outstanding shares, which we indicated in our January 12, 2018 8K filing we had under consideration. After further review, we have decided that a reverse split is not in the best interest of our shareholders and we have made the decision NOT to proceed with a reverse split of our shares to achieve a higher closing price to maintain the OTC: QB status. We believe maintaining the liquidity in our shares is more important than the QB listing and our access to the equity line. If we do not achieve the 10- day closing price of $0.01 or greater before April 8, 2018 we will revert back to the OTC
K status which we have had previously. Other than the access to the equity line financing, we do not believe this status will impact our ability to develop our refinery project with other debt and equity providers. If we lose our QB status, once we achieve the minimum stock price for the requisite number of days, we can apply again for OTC: QB status.” This is per the March shareholder letter, which was after the January 8k. I can repost if there is further comfusion
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