Stoney - I don't know if you've seen this or not, but I find it interesting. From WWAT's latest proxy statement:
THE BOARD URGES STOCKHOLDERS TO VOTE âFORâ THIS PROPOSAL
Unless Marked to the Contrary, Proxies Will Be Voted For Approval
PROPOSAL FOUR
TO APPROVE A REVERSE STOCK SPLIT AS APPROVED BY DIRECTORS
Our Board of Directors is seeking approval of an amendment to our certificate of incorporation to give the Board authorization to effect a reverse split of our issued and outstanding common stock, without further approval of our stockholders, upon a determination by our Board that such a reverse stock split is in the best interests of our company and our stockholders at any time before our next annual meeting of stockholders. If the proposed reverse stock split is approved at the annual meeting and the Board of Directors elects to effect the proposed reverse stock split, each stockholder would receive a smaller number of shares at the reverse stock split ratio selected by the Board of Directors. The ratio will be no less than one for four and no greater than one for eight. The proposed reverse stock split will only be effected at a time when the price per share of our common stock is greater than $1.00.
R/S does not normally signal good news, but these folks seem to think the shares will hit $1 this year. I'll be out before then, but overall I take this as a positive.
THE BOARD URGES STOCKHOLDERS TO VOTE âFORâ THIS PROPOSAL
Unless Marked to the Contrary, Proxies Will Be Voted For Approval
PROPOSAL FOUR
TO APPROVE A REVERSE STOCK SPLIT AS APPROVED BY DIRECTORS
Our Board of Directors is seeking approval of an amendment to our certificate of incorporation to give the Board authorization to effect a reverse split of our issued and outstanding common stock, without further approval of our stockholders, upon a determination by our Board that such a reverse stock split is in the best interests of our company and our stockholders at any time before our next annual meeting of stockholders. If the proposed reverse stock split is approved at the annual meeting and the Board of Directors elects to effect the proposed reverse stock split, each stockholder would receive a smaller number of shares at the reverse stock split ratio selected by the Board of Directors. The ratio will be no less than one for four and no greater than one for eight. The proposed reverse stock split will only be effected at a time when the price per share of our common stock is greater than $1.00.
R/S does not normally signal good news, but these folks seem to think the shares will hit $1 this year. I'll be out before then, but overall I take this as a positive.
