Acorn Energy, Inc. (PNK:ACFN) Q2 2023 Earnings Call Transcript

Jan Loeb: Okay. So, definitely correct. We’ve had permission to reverse stock and a number of investors have said to us that we should do that in order to make it easier to purchase the stock because the number of brokerage firms don’t allow customers to buy stock. So, I in the past, have been hesitant to do that because historically in the 40-plus years that I’ve been on Wall Street, the reverse stock split typically use value after the reverse split. So, I’ve been hesitant to do that. There’s usually only one reason to go ahead with it. And that is and I’ve said this in the past that if we have some good news and kind of — good news to come, meaning a string of good events, that would give me the confidence that reverse split stocks that did not lose value, but will rather gain value for our company.

And so if we do a reverse stock split, and we announced that we’re going to do a reverse stock split, I think one can rest assured that we feel very confident about the future, and we have some good news coming. But until that time, I’ve so far been hesitant to do it. But we’ll see what happens into the future. I hope that answers Tom’s question.

Bill Jones: Thank you, Jan.

Operator: This concludes the question-and-answer session. I will now turn the call back over to Mr. Jan Loeb for his closing remarks.

Jan Loeb: Thank you everyone for your interest in Acorn Energy. We look forward to updating investors on our Q3 conference call. And as always, we will update you in the interim via press releases with any material developments. We appreciate your support and I’m happy to speak with investors or prospective investors about our company. You can set up a call with myself and Tracy or ask a question to our IR team, who’s his contact information is in today’s press release. Until then, we thank you all for joining our call today. All the best.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.