reverse split for look

Reverse Stock Split

Today LookSmart filed a preliminary proxy statement with the SEC seeking shareholder approval to amend its charter to effect a 1:3, 1:5 or 1:7 reverse stock split at the discretion of its Board of Directors. This reverse split is intended, among other things, to increase the Company's minimum bid price to meet the continued listing requirements of the Nasdaq National Market. "While our first and foremost priority is always improving operational performance to build shareholder value, we believe that maintaining our Nasdaq National Market listing and 'right-sizing' our share count is also an important element of our strategy. The Board of Directors believes that it is prudent to complete this process now so we can continue to focus on improving operational performance," concluded Mr. Hills.

Regards
Quik.