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Anya 16-Nov-2010 04:48 AM
Post Type: Public Public
Although there is an incentive to uplist by June 2011, the current share price would be a ... (#4350) In Response to original message: #2507 posted by on 20-Apr-2010 08:18 AM

Although there is an incentive to uplist by June 2011, the current share price would be a road block since there has not been any talk of reverse split. This is from last 10Q.

 "On June 30, 2010, the Company and Jing’an Wang, the Company’s Chief Executive Officer, on the one hand, and the Investors and Sullivan & Worcester LLP, the escrow agent, on the other hand, entered into a Settlement Agreement and Release, pursuant to which the parties agreed to release 900,000 shares of the Company’s common stock from the escrow pro rata to the Investors on the date of the Settlement Agreement and Release.  The remaining 500,000 shares of the Company’s common stock shall remain in escrow and shall be returned to Jing’an Wang if (i) the Company obtains financing in the aggregate amount of at least $3,000,000 by December 31, 2010; and (ii) the Company completes the listing of its common stock for trading on any major securities exchange within twelve (12) months from the date of the Settlement Agreement and Release.  If the foregoing conditions are not met, the remaining 500,000 shares will be released to the investors" 

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