"We are fully prepared to submit the requisite initial listing application, and we believe the post-merger company will meet all criteria for initial listing on Nasdaq, except possibly the minimum bid price requirement of $4.00 per share. " Does this mean a reverse split is necessary to meet the $ 4.00 requirement?
A plan of reorganization or liquidation may result in holders of the Company’s common stock receiving little or no distribution on account of their interests and cancellation of their existing stock. If certain requirements of the Bankruptcy Code are met, a Chapter 11 plan of reorganization can be confirmed notwithstanding its rejection by the Company’s equity securityholders and notwithstanding the fact that such equity securityholders do not receive or retain any property on account of their equity interests under the plan.
On February 27, 2015, Quicksilver Resources Inc. (the "Company") awarded retention cash bonuses to certain of the Company's named executive officers in the following amounts: Vanessa LaGatta, SVP, CFO and Treasurer, $500,000; Stan Page, SVP - U.S. Operations, $406,875; David Rushford, SVP - COO of QRCI, C$315,900; and Anne Self, VP - Human Resources, $84,375.