OMOLIVES
3 주 전
:) Yes...they are very much legitimate. They need a substantial cash raise and such is not viable via the OTC. So, to answer your question:
"So why would they RS this?"
Our common stock is currently approved for quotation on the OTC Pink Market under the symbol “DROR.” As soon as practicable, and assuming we satisfy all necessary initial listing requirements, we intend to apply to have our Common Stock listed for trading on Nasdaq, although we cannot be certain that any such application will be approved.
The initial listing requirements of the Nasdaq Capital Market require, among other things, that our Common Stock must maintain a closing bid price in excess of $4.00 per share, or $2.00 per share if the Company meets certain criteria. We will be unable to comply with such listing standards unless the per share market price of our Common Stock is increased.
If we do not succeed in listing our Common Stock on Nasdaq or another national securities exchange, the Board believes that the liquidity of the trading market for our Common Stock may not improve, which could lead to low trading prices of our Common Stock and high transaction costs of trading in shares of our Common Stock.
If the Reverse Stock Split Amendment is effected, it would cause a decrease in the total number of shares of our Common Stock outstanding and increase the market price of our Common Stock. The Board intends to effect the Reverse Stock Split only if it believes that a decrease in the number of shares outstanding is in the best interests of the Company and our stockholders and is likely to improve the trading price of our Common Stock and improve the likelihood that we will be allowed to list our Common Stock on Nasdaq. Accordingly, our Board approved the Reverse Stock Split as being in the best interests of the Company.
As noted above, the principal purpose of the Reverse Stock Split is to increase the trading price of our Common Stock to meet the minimum stock price standards of Nasdaq. However, the effect of the Reverse Stock Split on the market price of our Common Stock cannot be predicted with any certainty, and we cannot assure you that the Reverse Stock Split will accomplish this objective for any meaningful period of time, or at all. While we expect that the reduction in the number of outstanding shares of Common Stock will proportionally increase the market price of our Common Stock, we cannot assure you that the Reverse Stock Split will increase the market price of our Common Stock by a multiple of the Reverse Stock Split ratio, or result in any permanent or sustained increase in the market price of our Common Stock. The market price of our Common Stock may be affected by other factors which may be unrelated to the number of shares outstanding, including the Company’s business and financial performance, general market conditions, and prospects for future success.
:)
https://www.otcmarkets.com/filing/html?id=17126872&guid=qnO-kFzzo57Oh3h