CABN is going to reverse split to uplist? seriously? Thats the reason their going with.
This is the criteria to make it on the Nasdaq
Listing Requirements for All Companies Each company must have a minimum of 1,250,000 publicly-traded shares upon listing, excluding those held by officers, directors or any beneficial owners of more then 10% of the company. In addition, the minimum bid price at time of listing must be greater than five dollars, and there must be at least three market makers for the stock. Each listing firm is also required to follow Nasdaq corporate governance rules 4350, 4351 and 4360. Companies must also have at least 450 round lot (100 shares) shareholders, 2,200 total shareholders, or 550 total shareholders with 1.1 million average trading volume over the past 12 months.
In addition to these requirements, companies must meet all of the criteria under at least one of the following standards.
Listing Standard No. 1 The company must have aggregate pre-tax earnings in the prior three years of at least $11 million, in the prior two years at least $2.2 million, and no one year in the prior three years can have a net loss.
Listing Standard No. 2 The company must have a minimum aggregate cash flow of at least $27.5 million for the past three fiscal years, with no negative cash flow in any of those three years. In addition, its average market capitalization over the prior 12 months must be at least $550 million, and revenues in the previous fiscal year must be $110 million, minimum.
Listing Standard No. 3 Companies can be removed from the cash flow requirement of Standard No. 2 if the average market capitalization over the past 12 months is at least $850 million, and revenues over the prior fiscal year are at least $90 million.
Do you really think CABN will ever achieve these requirements?
While it's heart wrenching to lose the effect and benefit of amassing a lot of shares I still think this company will succeed and when it does it's stock will go through the roof. It's just a bummer that we early adopters are not going to be rewarded in millions by watching our large numbers of stock go from .07 to $3 and then higher. Instead we're going to watch our smaller pile of shares start at $3 and go higher. My opinion is that Byron had to do this in order to progress the company--that's his first order of business--probably because of a large investor. It's still good, a little at our expense but I'm still in.
The PR is on the website under news and I also got the email, it does state the board approved it so it will have to be filed with the SEC, that's why I mentioned that it will take some time. The other point about Byron's statements...information is accurate at the time it was given, and I'm glad that he adapts to the roadblocks/challenges as quickly as he does, it's not a linear exercise...if he persued Government funding he would have had to relinquish a lot of control along time ago...and as you know from a previous conference call in December?...He wants to partner with a large company rather than Government funding and looks like this is closer to happening now than ever. ..Large companies do not get involved with companies listen on the OTC boards....information can and will change and one has to decide what your tollerance level is.....personlly I like roller coasters but the merry-go-rounds get me every time..we will see
we were all lied to, this is such BS, forget about the exchange your stock is listed on, this is a slap in the face to all of us
Byron was asked the question about reverse splits on the last 3 conference calls, ALL 3 TIMES HE SAID IT WAS NOT NEEDED!! Market cap supports us and blah blah blah! What a joke!! now he decides to do it? and also the e-mail not only talks about RS, but then mentions additional financing? Even if you do a 40 to 1 reverse split, you will still wind up at 6 cents if you dilute the crap out of your company. We will see if CS gets listed on the amex, how quickly it will get a delisting notice.
stupid Byron, we were all mis-led on this one
I am out of this one for good, congrats Byron, you just lost another shareholder at your expense