NEW YORK CITY, NY -- (Marketwire) -- 12/09/10 -- Optigenex Inc. (PINKSHEETS: OPGX) the "Company" today announced that effective as of December 8, 2010, the Finra has cleared a 1-for-125 reverse split of the Company's issued and outstanding common stock. As a result of the reverse stock split, the Company's secured lender will issue a waiver with respect to all defaults under Debentures held by the secured lender until December 31, 2012.
At the effective time of the reverse stock split, every 125 shares of the Company's pre-split common stock were automatically converted into 1 share post-split common stock. Accordingly, the Company has issued and outstanding post-split common shares of approximately 106,781,779, derived by 13,347,717,607 (Pre-split outstanding) divided by 125 and rounded to the nearest thousand. Fractional shares resulting from the reverse split will be rounded up to the next whole share.
The Company has retained its transfer agent, Interwest Transfer Company, Salt Lake City, Utah, to act as exchange agent for the reverse stock split. Stockholders that currently hold shares in book entry form will receive updated statement of holding reflecting the reverse split and need not take any action.
About Optigenex Inc.
Optigenex Inc. is a formulator, distributor and provider of proprietary next generation skin care, supplements and bulk ingredient featuring AC-11® (formerly known as C-MED-100®), a patented all-natural compound, as it core product. AC- 11® is the bioactive, water-soluble form of the medicinal herb Uncaria tomentosa. For more information about Optigenex please visit our website: http://www.optigenex.com
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