Wetouch Technology Inc (WETH)

[molee]

Taken from recent Q report : https://www.otcmarkets.com/filing/html?id=16868621&guid=xbN-kFZIIMRnJth

NOTE 15 — SUBSEQUENT EVENT

On February 17, 2023, the Board of Directors of the Company authorized a reverse stock split with a ratio of not less than one to five (1:5) and not more than one to eighty (1:80), with the exact amount and the timing of the reverse stock split to be as determined by the Chairman of the Board. On July 16, 2023, the Chairman of Company issued a certificate to determine that the reverse stock split ratio of its common stock was fixed at 1-for-20. The Company will retroactively restate the number of shares of common stock outstanding once it is implemented.