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Ten years ago, Cullumber Ltd. issued 703,800 shares, which are still outstanding, for a total value of $4.86 million. The board of directors for

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Ten years ago, Cullumber Ltd. issued 703,800 shares, which are still outstanding, for a total value of $4.86 million. The board of directors for Cullumber Ltd. has become concerned with the dramatic drop in the market price of the shares to $0.30 per share. The company is at risk of being delisted if the share price drops below $0.25 per share. (a) Your answer is correct. What would be the required reverse stock split to move the market price to $6.90 per share? Required reverse stock split 1 for 23

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