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AudioEye Announces Reverse Stock for Proposed Uplisting to NASDAQ
Jun. 29, 2018 09:05AM PST
Cloud Investing
AudioEye (OTCQB:AEYE), the leader in cloud-based software-as-a-service digital content accessibility solutions announced that the company filed a preliminary 14C with Securities and Exchange commission (SEC) for the 1 for 25 reverse stock split of company’s issued and outstanding common stock. As quoted in the press release: The primary purpose of the Reverse Split is to …
AudioEye (OTCQB:AEYE), the leader in cloud-based software-as-a-service digital content accessibility solutions announced that the company filed a preliminary 14C with Securities and Exchange commission (SEC) for the 1 for 25 reverse stock split of company’s issued and outstanding common stock.
As quoted in the press release:
The primary purpose of the Reverse Split is to enable the Company to qualify its common stock for listing on the NASDAQ Capital Market (“NASDAQ”). Following the mandatory 10-day waiting period for the Preliminary 14C and barring any comments from the SEC, the Company anticipates it will file a Definitive 14C on or about July 9, 2018. Following the mandatory 20-day waiting period, the Definitive 14C will become effective on or about July 30, 2018. Shortly thereafter and upon approval by the Financial Industry Regulatory Authority, the Reverse Split will be effected. A new CUSIP number will be assigned to the Company’s common stock as a result of the Reverse Split.
AudioEye Executive Chairman, Dr. Carr Bettis, highlights the positive momentum driving the company, “Year-over-year growth has been exponential. AudioEye continues to dominate the industry as the demand for viable solutions expands across market segments,” Dr. Bettis explained. “As the only end-to-end technology-based solution that is sustainable, global iconic brands continue to engage AudioEye. Our penetration into key market segments through partnerships with industry-specific platforms continues to expand. The move to NASDAQ will enhance AudioEye’s visibility and attract a broader shareholder base, which we believe will contribute to creating value for our shareholders.”
The Company is working diligently to promptly file an application to have its common stock approved for trading on NASDAQ. Before any listing of the common stock on NASDAQ could occur, NASDAQ will need to approve the Company’s application for listing after the Reverse Split is completed. There can be no assurance that NASDAQ will approve the Company’s application.
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