Conspiracy Entertainment Announces 1:3 Reverse Stock Split Effective Immediately >CPYE 04/26 08:00 AM
LOS ANGELES--(BUSINESS WIRE)--April 26, 2010--
("Conspiracy Entertainment") , a developer, publisher and marketer of interactive entertainment software in North America and Western Europe, today announced a one-for-three reverse stock split. The stock split was effective as of April 22, 2010 and will be trading under the symbol "CPYED" for 20 trading days to designate that it is trading on a post reverse split basis. Subsequently, the stock will resume trading under the symbol "CPYE" on or about May 20, 2010.
As a result of the reverse stock split, every three shares of common stock will be exchanged for one share of common stock and the total number of shares outstanding will be reduced from approximately 75 million to approximately 25 million. No fractional shares will be issued in association with the reverse stock split and holders of fractional shares.
"In an effort to improve the capital structure of the Company, we believed the reverse stock split will enable our Company to increase the investor audience and interest in our common stock," commented Sirus Ahmadi, CEO of . "We will continue to execute our growth strategy, one that we believe is inline with our long-term growth opportunities, in the hopes of becoming a leader in the gaming industry."
About
, through its wholly owned subsidiary, Conspiracy Entertainment Corporation, is a developer, publisher and marketer of entertainment software in North America and Western Europe. The Company develops and licenses properties from several sources, including global entertainment and media companies and publishes software for DVD media, wireless devices, personal computers and video game consoles, including those manufactured by Nintendo, Sony Computer Entertainment, Inc., and Microsoft Corporation. was founded in 1997 and is based in Santa Monica, CA.
Forward-Looking Statements
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", " should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. Additional information on risks and other factors that may affect the business and financial results of can be found in the filings of with the U.S. Securities and Exchange Commission.
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SOURCE: Copyright Business Wire 2010
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