Conolog Corporation (CNLG.OB), an engineering and design company that provides digital signal processing solutions to global electric utilities, recently announced that the company secured more than $380,000 in new product orders for April 2008. Additionally, Conolog Corporation received shareholder approval for a one-for-four reverse split of the company’s common stock.
Strong sales in April continue to validate market acceptance of the company’s product offerings. Conolog Corporation will continue to expand its marketing efforts and is focused on increasing sales, product applications, related software and production capacity throughout 2008.
At a special shareholder’s meeting earlier this month, stockholders approved an amendment to the company’s certificate for a one-for-four reverse split of common stock, which was also approved by the board of directors. The higher price from the split, which should push the per share price above $1, will allow the company to increase the market for its shares since many investors disregard shares that trade under $1 and view them as speculative investments.
Let us hear your thoughts below: