"At the opening of trading on September 16, 2016, we effected a reverse split of our common stock at a ratio of 1:1800. In connection therewith, the Company's ticker symbol will be GLDGD for 20 trading days to designate that it is trading on a post-reverse split basis. In addition, Golden Global post-split common stock will trade under the new CUSIP Number 381057306.
As a result of the reverse stock split, each of our 1,800 pre-split shares of common stock outstanding will automatically combine into one new share of common stock without any action on the part of the respective holders, and the number of outstanding shares of our common stock will be reduced from approximately 27.6 billion shares to approximately 1.53 million shares. The reverse stock split will also apply to shares of common stock issuable upon the conversion of outstanding notes payable and convertible preferred stock and upon the exercise of outstanding warrants and stock options.
The Company's transfer agent, VStock Transfer, LLC, will provide instructions to stockholders regarding the process for exchanging shares. No fractional shares will be issued as a result of the reverse stock split, and stockholders who otherwise would be entitled to a fractional share will receive, in lieu thereof, a cash payment which will equal the product obtained by multiplying (a) the fraction to which the stockholder would otherwise be entitled; by (b) the per share closing sales price of Golden Global common stock on September 16, 2016, the effective date of the reverse stock split. "
