' Under the terms of the agreement, there are no upper limits to the price that Lincoln Park Capital may pay to purchase the Company’s common stock and this transaction in no way impedes or changes the Company’s goal of completing a reverse split and national listing. The Company plans to continue pursuing its stated corporate milestones of achieving a national listing ........ ' September. 20, 2012
' As you know, we are aggressively pursuing a reverse stock split, to be accompanied by an up-listing to Nasdaq.'
' We continue to move with great determination towards uplisting to the NASDAQ exchange with a concomitant reverse split to a qualifying share price. We have a very clear understanding of the few remaining boxes we need to check to complete the process, and are devoting significant management time to that effort .'
' With over 2 billion shares outstanding we can never get a listing onto the Nasdaq unless we were really close to commercialization.There has to be a reverse split.'
' In terms of the reverse split, the reverse, I’m holding off on doing the reverse as I said from the very beginning until we resolved these, the last of these warrant holder and debenture issues.I’m hopeful that we’re going to be able to put those to bed relatively soon because we’ve done a lot of other things to get ready for our uplifting and for our reverse. '
' Our position of strength is we have published data, and now we have additional data from subsequent patients, and follow on from the first patient that shows that we have a real proof of concept here.That is the most powerful position of strength that I can possibly think of.'
' I know very well that most reverse splits are are, ahh......at least in the short term, value destructive...'
On April 26, 2012, the shareholders approved an amendment to the Certificate of Incorporation of the Company to effect a reverse stock split of the Company’s common stock, par value $0.001 per share, at a ratio not less than one-for-twenty and not greater than one-for-eighty, and reduce the number of authorized shares of the Company’s common stock in the same proportion as the reverse split, with the exact ratio to be set within such range in the discretion of the Board of Directors without further approval or authorization of the Company’s shareholders, provided that the Board of Directors determines to effect the reverse stock split and proportional reduction in authorized shares of common stock and such amendment is filed with the Secretary of State of Delaware no later than December 31, 2012.
Live and learn, before you crash in penny stock hell: officers receive free shares, matters not if the value of their free shares drops 80%, BECAUSE they continue to issue themselves free shares annually, and when the pot runs dry, they vote to authorize more shares, thus diluting the stock. You are too inexperienced to be in actc. Run