Another one attempting to get on the Nasdaq using a reverse split.
OTC DISCLOSURE & NEWS SERVICE
BioCorRx Announces Reverse Stock Split in Preparation for Proposed Uplisting to NASDAQ Capital Market
Press Release | 01/23/2019
ANAHEIM, CA, Jan. 23, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- BioCorRx Inc. (OTCQB: BICX; BICXD) (the “Company”), a developer and provider of advanced solutions in the treatment of substance use disorders, announced today a reverse stock split of its shares of common stock at a ratio of 1-for-100. The reverse split took effect at the open of business Tuesday, January 22, 2019. The common shares of BioCorRx, which previously traded under the ticker symbol “BICX,” began trading on a post-split basis under the symbol “BICXD,” which will continue for a period of 20 business days after which time the “D” will be removed, and the symbol will revert back to “BICX.” The Company’s common stock will also be identified under a new CUSIP number (09073C205).
Each stockholder’s percentage ownership interest in BioCorRx Inc. remains unchanged with the reverse stock split. As a result of the reverse stock split, every 100 shares of issued and outstanding common stock are converted into one share of common stock, with all fractional shares being rounded up to the nearest whole share. No fractional shares will be issued in connection with the reverse stock split. The reverse stock split will reduce the number of shares of issued and outstanding common stock from approximately 259,984,655 pre-split shares to approximately 2,599,863 post-split shares.
As previously disclosed, the reverse split was implemented by the Company in connection with the Company’s application to list its shares of common stock on the NASDAQ Capital Market. The reverse split is intended to fulfill the stock price requirements for listing on the NASDAQ.
The Nasdaq's third tier, the AMEX can be just as bad, and last but not least, the OTC, it seems, are financial venues that reward failure.
