how many of you are still stuck with big apple spinoff paper into this 250-1 reverse split?
that's pretty lousy -- they fight, by utter and complete inaction and almost indignation to the spinoff shareholders, and the ones that couldnt sell get destroyed with a monster reverse.
might be time to revisit this one in my blog. i mean, isnt big apple like one of the smallcaps' biggest IR firms? hard to imagine they treated their shareholders like this.
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Big Apple Worldwide, Inc. Announces Effective Date of Capital Restructuring
Market Wire "US Press Releases "
NEW YORK, NY -- (MARKET WIRE) -- 08/07/07 -- Big Apple Worldwide, Inc. (PINKSHEETS: BPWW) announced today that the Company will be restructuring its stock, effective August 10, 2007, in order to position itself for profitability. The Company will be implementing a 250 to 1 reverse stock split of its outstanding common stock, for shareholders of record as of August 9, subject to completion of regulatory compliance requirements.
The Big Apple Worldwide Board of Directors recently approved the capital restructuring in order to foster investment, reduce market volatility that its shares have experienced, and to position itself for profitability in the next 12 to 18 months. The Company will also undergo a symbol change, to be announced August 10, in concert with the reverse split.
"We foresee a period of rapid growth to coincide with the rollout of our kiosk program in the coming months. In anticipation of that event, we feel that the restructuring will better reflect our true market value and position as a leader in our industry," stated Neal Jablon, President of Big Apple Worldwide, Inc.
About Big Apple Worldwide, Inc.:
Big Apple Worldwide, Inc. (www.bigappleworldwide.com) is a holding company focused on serving the hospitality and leisure market. Big Apple Wallcovering, Inc. (www.bigapplewallcovering.com) is a wholly owned subsidiary of Big Apple Worldwide and has inspired the Architecture and Design community with cutting-edge design and the manufacturing of architectural wallcovering and fabrics for hospitality, private offices and commercial interiors. Big Apple Worldwide, Inc. also recently purchased Elabrient Surfaces (www.elabrient.com), which is a commercial interior design development and manufacturing company specializing in commercial wallcovering. Big Apple Travel, Inc. (www.bigappletravel.com), a wholly owned subsidiary of Big Apple Worldwide, Inc., is a full-service travel agency and features a next generation travel salon in Orlando, Florida.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contact:
For more information visit
www.bigappleworldwide.com
or contact:
Investor Relations
(866) THE APPL(E)
