Tuesday, March 22, 2011 6:02:19 PM
FT. LAUDERDALE, FL, March 18, 2011 -- Macada Holding, Inc. (MCDA)today announced several corporate actions designed to reorganize the company and prepare for additional development.
These actions are a name change to KMA Holdings, inc., a one for 1,000 reverse split of its common stock, and moving the State of corporate domicile from Nevada to Wyoming. In connection with the split, the corporate articles of incorporation have been amended and restated to include anti-takeover and other provisions to protect shareholder value and authorize new classes of preferred stock.
The President of KMA Holdings, Steve Cohen, said, "We believe that the reverse split and the adoption of anti-takeover provisions will cause investors to increasingly understand that we are moving forward our program of developing the company. We feel that this will also increase the marketability of our stock."
These changes have been approved by FINRA, the Financial Industry Regulatory Authority and the stock is trading under the symbol "MCDAD."
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http://www.otcmarkets.com/stock/MCDAD/news?id=28189&b=y
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