8-k symbol change, 9/16/13 -----> sept 25, 2013
Item 8.01.
Other Events.
We previously announced in a Form 8-K dated September 3, 2013, the filing of a Certificate of Amendment with the Nevada Secretary of State on September 4, 2013 in which we changed our name to Symbid Corp. Financial Industry Regulatory Authority (“FINRA”) advised us on September 12, 2013 that the name change will be announced by FINRA on September 24, 2013 with an effective date of September 25, 2013 (the “Effective Date”). At the open of trading on the Effective Date, our trading symbol will change to “SBID”.
We previously announced in a Form 8-K dated September 3, 2013, a 25:1 forward stock split of our common stock in the form of a dividend with a Record Date of September 16, 2013. The Payment Date will be September 18, 2013, the Ex-Dividend Date will be September 19, 2013 and the Due Bill Redeemable Date will be September 23, 2013. The stock split in the form of a dividend will entitle each shareholder of our common stock as of the Record Date to receive 24 additional shares of common stock for each one share owned. Additional shares issued as a result of the stock split will be distributed on the Payment Date. Shareholders do not need to exchange existing stock certificates and will receive a new certificate reflecting the newly issued shares.
Shareholders who sell their common stock before the Ex-Dividend Date are selling away their right to the stock dividend. Such sale will include an obligation to deliver any shares acquired as a result of the dividend to the buyer of the shares, since the seller will receive an I.O.U. or "due bill" from his or her broker for the additional shares. The day stockholders can sell their shares without being obligated to deliver the additional dividend shares is the Ex-Dividend Date, the first business day after the stock dividend Payment Date. As of the Ex-Dividend Date, our common stock will trade on a post-split adjusted basis.
