Tuesday, August 04, 2020 8:54:23 PM
"The Reverse Stock Split will also cause a corresponding pro-rata decrease of the number of the Company’s authorized shares of Common Stock in accordance with the Reverse Stock Split ratio. No fractional shares of Common Stock will be issued as the result of the Reverse Stock Split. Instead, the Company will issue to the Company’s stockholders holding a fractional share of Common Stock one additional share of Common Stock for each fractional share. The Company anticipates that the effective date of the Reverse Stock Split will be during the third calendar quarter of 2020. The Company also anticipates that it will eventually increase its authorized Common Stock to provide additional capital for future issuances."
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