Ideanomics Inc (IDEX)

[esb1015]

YOU On Demand Announces Completion of Reverse Stock SplitLast update: 2/10/2012 4:30:00 PMNEW YORK, Feb. 10, 2012 /PRNewswire via COMTEX/ -- YOU On Demand Holdings, Inc. ("the Company"), China's leading national Pay-Per-View (PPV) and Video On Demand (VOD) platform, today announced the completion of a 75-to-1 reverse stock split of the Company's common stock, effective for shareholders of record on February 13, 2012. "The purpose of this reverse stock split is to improve YOU On Demand's prospects of successfully listing its common stock on the NASDAQ Capital Market," said Shane McMahon, Chairman and CEO of YOU On Demand. YOU On Demand shareholders will receive one new share of the Company's common stock for every 75 shares held. The reverse stock split will reduce the number of shares issued from approximately 1.1 billion to approximately 14.5 million on a fully diluted basis, and will not negatively affect any of the rights that accrue to holders of YOU On Demand common stock, preferred stock, or options.