is a venture capital company based in Cambridge, Massachusetts that focuses on equity and debt financing. Global acquires businesses with a focus in technology, green energy, & internet in part or in whole, via equity acquisitions of those businesses. Global also arranges debt financing for businesses in the form of loans and convertible debentures. On both the venture capital and debt sides of its business, Global Development's clients include private and publicly listed, early-stage and newly formed companies.
CAMBRIDGE, Mass., Jan. 5, 2012 /PRNewswire/ -- Global Developments, Inc. (Pink Sheets: GDVMD), a venture capital firm which invests in innovative and emerging growth-oriented companies, announces today that FINRA has approved a 5% forward stock split.
Shareholders of record as of January 4, 2012 will receive additional shares in GDVM equal to 5% of their holdings in GDVM common stock. Fractional shares will be rounded up in favor of the shareholder.
Shares shall be payable upon surrender of old certificates. The Company elected this option for accounting purposes. The Board is looking to get a more accurate count of shares currently in the hands of active shareholders, which it says will enable it to further execute its business plan in 2012.
This will not affect shares purchased on or after the date of the forward, Thursday, January 5th. Any shares purchased on or after the date of the forward will be able to be sold immediately and will not need to be exchanged for new shares.
GDVM's board stated, "2012 will be an exciting year for the company. We are happy with the progress of our negotiations thus far and we will be announcing more details in the coming weeks."
About Global Developments
Global Developments, Inc. is a venture capital company that focuses on equity and debt financing. Global acquires businesses, in part or in whole, via equity acquisitions of those businesses. Global also arranges debt financing for businesses in the form of loans and convertible debentures. On both the venture capital and debt sides of its business, Global Developments clients include private and publicly listed, early-stage and newly formed companies.
Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.
CONTACT:
Global Developments, Inc. Brian Edson, (617) 520-4386 bedson@globaldevinc.com
SOURCE Global Developments, Inc.