UCAD 3:1 Forward info (Please Read)
Hi Everyone. I just spoke to Chris Hanneman at UCAD and she asked me to pass this information on to you.
Some main things concerning the UCAD capitalization 3:1 forward split.
1. The 3:1 is in the hands of NASDAQ and the split is imminent
2. Stocks will be adjusted in you r brokerage account automatically you don’t have to do anything
3. There will be a new CUSIP Number applied to UCAD as the split takes place. The first (Or old) CUSIP will not be used anymore and everyone that bought shares under that old CUSIP number will get the 3:1 forward split. As the split occurs on the market, the old CUSIP will be disengaged and the NEW CUSIP will be in effect. The NEW CUSIP will reflect the price reduction and will not be entitled to the 3:1 forward.
Example: If the market is trading for UCAD tomorrow at 11:16AM at $15.00 and NASDAQ releases the split at 11:17AM and the price drops to $5 per share. The UCAD CUSIP 903328995 will cease at 11:17AM and the new UCAD CUSIP number (whatever it is) will take over. Everyone that buys at the Pre-Split price will get the old CUSIP number and the 3:1 forward. Everyone that buys afterwards will not.
4. Certificate holders of UCAD will show the old CUSIP Number and they do not have to turn these certificates in to get the 3:1 forward. Although NO NEW certificates will be sent out to certificate holders reflecting the new totals of the 3:1 forward, all shares on the certificates with the old CUSIP will be automatically upgraded when they are turned in to be traded. There is NO NEED to send your old certificates in and pay the extra prices to get them changed over it will just cost you and UCAD more money for the exchange. CHRIS Hanneman from UCAD personally told me you do not have to send these certificates in. So save the extra cost of switching the certs. They will be automatically upgraded to the 3:1 and new CUSIP when they are sent in for trading.
5. All CMKXers that have received the UCAD share dividend have the old CUSIP. The electronic shares will show the 3:1 forward in your brokerage accounts but the certificate holders will not.
6. If you have certificates on UCAD and want to pay the extra fees to get the new UCAD certificates you can, they will be available, but you will have to pay the extra charges and so will UCAD. Not necessary in my opinion. Save the money.
The split will in no way affect UCAD maintaining a price average if they are trying to qualify for an upper market. Chris did not say they were, but I am saying “if they were” the post-split price would not affect the trading price average of UCAD as the Pre-Split price would be the true price factored in.
Everything at this point as far as the shares being transferred has been completed and UCAD and all of us share holders are simply waiting for the NASDAQ to initiate the split into the market. It could be Tuesday, Wednesday, etc… But the initiation will take place at NASDAQ’s leisure and is completely out of the hands of UCAD at this time. So please don’t wear CHRIS out with phone calls. She didn’t say to not call her, but I am saying she has to need a break. Going from 300 or so shareholders to 42000+ has to be a trying experience.
I hope these communications answers some of the questions you may be having. If not feel free to contact me for further clarification or if need be you can call Chris at:
303-220-8476 UCAD IR.
Thanks for your time
Dr.D
