QEDC: R/S Has found it's way to the graveyard....
NEWS From Scottrade
QED Connect Announces Completion of Reverse Stock Split and New Trading Symbol
Friday 08/08/2008 6:50 PM ET - Market Wire
As of 9:54 AM ET 8/8/08
QED Connect, Inc. (PINKSHEETS: QEDC), an innovative Software-as-a-Service (SaaS) provider, announced today it has received approval from NASDAQ for a 1-for-8500 reverse split of the company's common stock, with a planned effective date of August 11, 2008. The company will also be designated with a new trading symbol. This action is the result of the recommendation of the advisory committee formed in May, and part of a long-term plan to improve shareholder value. The committee reviewed QED's business model, corporate structure, market position and financing before making its recommendation. The stock will be trading under the new symbol of QEDN (PINKSHEETS: QEDN) and CUSIP number of 74732Q201.
The reverse stock split affects all of the company's common stock, stock options and warrants outstanding immediately prior to the effective date of the reverse stock split. The reverse split will reduce QED Connect, Inc. common stock outstanding from approximately 2,414,999,820 shares to approximately 284,207 shares.
This marks another step forward in the company's previously announced plans to restructure its operations and strengthen its financial position in order to pursue its strategic goals. QED Connect is aligning the necessary resources to increase market share, expand sales channels and continue servicing the growing base of customers that rely on its award-winning Omni Manager solution to increase business productivity and employee efficiency.
A mandatory exchange is not required; however, current shares may be swapped for a new certificate with the new CUISP and symbol number through the transfer agent at the shareholders option. Contact Routh Stock Transfer by:
Agent: Jason Freeman
Phone: 972-381-2782
Fax: 972-381-27831-2782
E-mail: jfreeman@routhtransfer.com
Web site: www.routhtransfer.com
Mail: 6860 N. Dallas Parkway, Ste 200
Plano, TX 75024
I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.
-- Warren Buffett
