A lot of companies have decided to take the reverse stock split way in the last three months to reduce their liabilities and strengthen share capital structure. As per the reports, OSL Holdings Inc (OTCMKTS:OSLH) has decided to go against the wind. The management of OSL has decided not to exercise reverse stock split.
Insights on The Matter:
OSL Holdings is known for its socially conscious business model, which is fully dedicated to social activism, consumer advocacy and advancement of various civil liberties through the power of management and commerce. The Executive Management Team of OSL Holdings along with the Board of Directors has decided not to exercise its power to execute reverse stock split.
While explaining the reasoning behind this decision, Bob Rothenberg, Chief Executive Officer, OSL Holdings, stated that the reverse stock split was not in line with company’s preferences. OSL Holdings has recently acquired Go Green Hydroponics; hence, the prime objective of the company is to look after the growth of its acquisition. In order to make sure that everything falls in line, the Board of Directors and the Executive Team of the company have decided to focus on the same.
Rothenberg’s statement was fully supported by the Chief Business Development Officer Steve Gormley. According to him, OSL Holdings would continue to focus on its accretive acquisition strategy and revenue generation until it achieves what the management has decided. Any other task including reverse stock split can affect company’s plans negatively.
The only thing that OSL Holdings yearns for is increasing shareholders’ value through new acquisitions and higher revenues. There are quite a few large deals in the pipeline, which need to be executed before anything else. OSL Holdings Inc (OTCMKTS:OSLH) wants to be a part of as many strategic partnerships as possible to expand its reach across the globe. It will look forward to thinking about reverse stock split only when the current objectives are fulfilled.