Optium Cyber Systems Announces Restructuring of Common Stock
May 01, 2018 19:24 ET | Source: Optium Cyber Systems, Inc.
THE WOODLANDS, TEXAS, May 01, 2018 (GLOBE NEWSWIRE) -- Optium Cyber Systems, Inc. (the Company) (OTC:OCSY) announces that FINRA has approved a corporate action to reduce the authorized common stock from 7,000,000,000 to 500,000,000 and to effect a reverse split of the issued common stock on a 1 for 500 basis. The par value of the common stock will remain at $0.001. The reverse split of the common stock will take effect on the opening of trading May 3, 2018.
Management would like to clarify for shareholders the reasoning for the restructuring:
-- Increase share price: the consolidation will increase the trading price per share to above $0.01. The sub-penny markets are getting harder and harder to trade and impossible to fund.
-- Funding: with a sub penny share price the Company was unable to fund because of dilution issues. Post rollback the share price will be above $0.01 allowing traditional funding and the possibility of a Reg A+.
-- Reduce the float: After the consolidation, the public float will be approximately 6,000,000 shares.
-- Price appreciation: with a tighter stock structure and a reduced float, the price per share will have a better chance to appreciate as the Company progresses. The potential return on investment will be greater over the long term under the new structure.
-- Larger potential audience: with a share price above $0.01, the Company will have access to investors who do not trade sub penny stocks such as institutional investors and Europeans.
-- Credibility: the Company was losing opportunities because of the stigma attached to sub penny stocks.
The reverse split will not:
-- affect shareholders’ percentage ownership interest in the Company;
-- affect shareholders’ proportionate voting power;
-- alter the rights of common stockholders.
Shareholders may at their discretion return any share certificates they are holding to the transfer agent to be changed to reflect the above corporate actions. Shareholders holding stock in a brokerage account will not have to take any action.
Management ask that shareholders be patient and allow the Company to develop its business model and is confident that over the long term, shareholders will be rewarded for their patience.
About Optium Cyber Systems, Inc.
OCSI has developed a proprietary process to analyze, identify and address cyber security vulnerabilities in an organization’s critical IT infrastructure which is scalable to any size organization in any industry. OCSI has recently launched in the health care sector, focusing on protecting health care facilities including hospitals, nursing homes and doctor’s offices from cyberthreats such as the manipulation of medical devices or theft of patient records. OCSI is a publicly traded company having its common shares quoted on the OTC Markets under the symbol "OCSY".
