This is great news! The news of the reverse split has been out there since the last press release on December 20th. Vape Holdings is doing this reverse out of a position of strength, not desperation like most companies. It will force out a lot of the old peoplestring holders and let them start over new when they switch over to the VAPE ticker symbol.
This is the best part of the release:
The Company's new name will be Vape Holdings, Inc. when the market opens on January 6, 2014. For twenty business days beginning on January 6, 2014, the Company's ticker symbol will be PLPED. After that twenty day period, the D, which signifies that the reverse stock split occurred, will be removed and the Company's new ticker symbol will be effective.
That means that starting on February 3rd the new VAPE ticker symbol will be in effect!