Social Life Network, Inc. (OTCMKTS:WDLF) and one of its divisions, Decentral Life, has announced on May 11, 2022 about formulating a stock split range of 100-to-1 up to 150-to-1, at a minimum share price of five cents, in order to qualify for an up listing to NASDAQ or the NYSE.
Trading Data
On Wednesday, WDLF stock fell 16.13% to $0.0013 with more than 92.43 million shares traded, compared to volume of 29.08 million shares. The stock moved within a range of $0.0012 – 0.0015 after opening trading at $0.0015.
Social Life Network Commitment to Protect Shareholders in Up Listing Process
Social Life Network CEO, Ken Tapp, has stated that they have followed through on their commitment to protect the shareholders during the process of listing the company to NASDAQ or the NYSE. The company has always emphasized the importance of its shareholders, unlike many organizations that tend to overlook them when focused on up listing from smaller stock exchanges.
As of now the management is actively engaged in fulfilling all of the requirements to qualify for listing on NASDAQ or the NYSE. A minimum bid price is one such requirement that must be met, that is typically achieved through a reverse stock split by companies currently trading on smaller exchanges under that minimum bid price. There are other minimum requirements to be fulfilled as well, apart from the minimum bid price.
Ken Tapp adds that their top priority was to ensure the eventual reverse stock split at five cents or higher, especially since they had announced to shareholders about conducting a reverse stock split only when their share price reached that price or higher.
Key Quote
“Since announcing in May of 2021 our intentions to up list the company to NASDAQ or the NYSE, management has followed through on its commitment to protect shareholders through the process,” said CEO, Ken Tapp.
Technical Data
WDLF stock is trading below the 20-Day and 50-Day Moving averages of $0.0018 and $0.0020 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0032.
