We are on are way to now to find out what we have here soon.
I am looking forward to this now.
Dave
Arvana Inc. to Reverse Split Stock
Date : 10/12/2010 @ 3:58PM
Source : MarketWire
Stock : Arvana Inc. (AVNI)
Quote : 0.04 0.0 (0.00%) @ 7:10AM
Arvana Inc. to Reverse Split Stock
Arvana (BB) (OTCBB:AVNI)
Intraday Stock Chart
Today : Tuesday 12 October 2010
Click Here for more Arvana (BB) Charts.
Arvana Inc. (OTCBB: AVNI), a business development company currently evaluating business opportunities
, announced today that it is in the process of reverse splitting its common stock. The company will issue one share of common stock for each twenty shares outstanding and will reduce the number of authorized shares. Post split there will be 5,000,000 shares, $.001 par value, common stock authorized and 1,060,119 shares, $.001 par value common stock issued. Instead of issuing fractional shares, the number of shares issued will be rounded to the nearest whole share.
The Company was notified by FINRA that effective October 13, 2010, a "D" will be placed on the ticker symbol ("AVNID") for 20 business days. After 20 business days, the symbol will revert back to the original symbol ("AVNI").
The new CUSIP number for the common stock will be 043279 20 7.
Mr. Zahir Dhanani, the Company's CEO, stated, "We feel that we can attract better investors and potential investment opportunities with the new capital structure. We are aggressively looking for companies that we believe have significant potential to create shareholder value."
About Arvana Inc.:
Until the end of 2007 Arvana Inc. business operations were focused on the telecommunication industry. In December 2007 the Company exited the telecommunication industry and is currently evaluating other industries and business opportunities in order to focus on the future.
Forward-Looking Statements:
Certain statements in this press release are forward-looking statements. We use words such as "anticipate," "believe," "could," "should," "estimate," "expect," "intend," "may," "predict," "project," "target," and similar terms and phrases, including references to assumptions, to identify forward-looking statements. The forward-looking statements in this press release are based on information available to us as of the date any such statements are made and we assume no obligation to update these forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in the statements. These risks and uncertainties include, but are not limited to, the following: factors that could affect our ability to achieve and manage our planned expansion, such as the availability of a sufficient number of suitable new restaurant sites and the availability of qualified franchisees and employees; risks relating to our expansion into new markets; the risk of food-borne illnesses and other health concerns about our food products; changes in the availability and costs of food; changes in consumer preferences, general economic conditions or consumer discretionary spending; the impact of federal, state or local government regulations relating to our franchisees and employees, and the sale of food or alcoholic beverages; the impact of litigation; our ability to protect our name and logo and other proprietary information; the potential effects of inclement weather; the effect of competition in the restaurant industry; and other risk factors described from time to time in our SEC reports.
Company Contact:
Zahir Dhanani
Suite 145, 925 West Georgia Street
Vancouver, B.C. V6C 3L2
604-568-4424
