The purpose of any reverse stock split is to attempt to increase the individual per share trading value of the company's common stock and reduce the number of shares issued and outstanding. The board believes that a decrease in the number of shares outstanding is likely to improve the trading price of the common stock, to make future access to a national market listing more likely attainable, to increase the marketability of its stock to potential new investors, and to improve its ability to attract institutional investors to hold company shares while decreasing the volatility of the stock price. These factors, as well as the extreme difficulty and expense that many of the company's stockholders are having at the current price in their attempt to comply with the penny stock rules at their brokerages, convinced the board that it was in the best interests of the company and its stockholders to implement the reverse split.
We might meet the requirement
I believe we only need the stock price to go up 21 cents. That might happen by April. Just my opinion of course. I was right! It did happen before April!!
Help me out here. Sometimes I am a little slow. There were specific targets to meet in order for the officers to receive bonuses but the committee did not consider these to give the bonuses. Am I reading this correct?
On February 12, 2014, the Compensation Committee (the "Committee") of the Board of Directors of Meru Networks, Inc. (the "Company") approved a discretionary bonus payment to the Company's executive officers to reward 2013 performance (the "2013 Bonus"). The 2013 Bonus is in addition to any amounts previously paid to the executive officers under 2013 Management Bonus Plan (the "Bonus Plan") that had been adopted by the Committee on January 29, 2013. The Company did not pay any bonuses under the Bonus Plan in respect of the second, third and fourth quarters or for the full year 2013. In determining to make the 2013 Bonus, the Committee considered various factors, including the 2013 revenues and 2013 Non-GAAP EBITA of the Company. The Committee did not compare these financial results against the specific targets in the Bonus Plan.
The 2013 Bonus for each executive officer consists of a mix of cash and restricted stock units ("RSUs") to be issued under the Company's 2010 Stock Incentive Plan. The table below shows the total amounts paid or to be paid to the named executive officers under the 2013 Bonus:
2013 Bonus 2013 Bonus
Name Cash ($) RSUs (shares)
Bami Bastani, Ph.D.
President and Chief Executive Officer $ 107,665.00 28,281
Chief Financial and Administrative Officer $ 32,988.00 8,666
Senior Vice President, Worldwide Sales and Field
Operations $ 77,758.00 20,426
Any clue why he quit? Mark Hansen is presently the Managing Partner of Cobalt Development Partners LLC, a firm focusing on the development of emerging consumer and intellectual property companies.
The pre-split stock price will be one half of one penny! They said the pre-split stocks were worth $1.00 each.
Gee, I wonder how they could have missed it by that much?????
Approval of an amendment to our amended certificate of incorporation authorizing an increase in authorized shares of common stock of the company from 6 billion shares to 18 billion shares, $.001 par value.
is a trillion coming soon?
"Because ERF Wireless has been, and continues to be, a vigorous and growing terrestrial wireless broadband company, the management team is of the opinion that the company's current valuation is unrealistically low and could be at least $1.00 per share." Does that mean the company's current valuation should now be $ 400 a share?