NEWS advanced Defense Technologies, Inc. Announces Name Change to Star Jets International, Inc., Trading Symbol Change to JETR, and Reverse Stock Split
NEW YORK, Feb. 05, 2018 (GLOBE NEWSWIRE) -- Advanced Defense Technologies, Inc. (OTC PINK:ADCF) (OTC PINK:ADCFD) announces that FINRA approved its corporate actions application for a corporate name change to Star Jets International, Inc., a new stock symbol-JETR representing its business as the premier private jet charter company, and a 1-for-100 reverse stock split; all to be effective as of February 12, 2018. An intermediary symbol, ADCFD (a “D” added to the old symbol) becomes effective on the approved FINRA date, which notifies the “STREET” of these corporate actions. The Company’s new stock symbol, JETR, goes active approximately 20 business days from the corporate action date.
Star Jets International offers its customers all the advantages of owning a corporate jet, without the burdens associated with ownership. This includes unprecedented flexibility through access to over 5,000 private jets domestically and 15,000 private jets worldwide. Star Jets executives have over 18 years of experience in aviation and marketing, www.starjetsinternational.com.
CUSIP assigned the Company a new number 855140109 associated with JETR’s new name, symbol, and recapitalization.
The 1-for-100 reverse stock split automatically converts one hundred current shares of ADCF common stock into one new share of common stock, with fractional shares rounded up to the next full share.
“These corporate actions represent an important next step in moving our Company forward toward becoming a fully reporting, OTCQB company,” said Ricky Sitomer, CEO of Star Jets. “We plan to take additional steps in the near future to audit our financial statements and then start filing our financial statements with the SEC, and apply to the OTCQB for trading. We hope to have that process done in the next few months. We are very excited for our name change, our symbol change, and our reverse split. We look forward to executing our plan for Star Jets Internationa
