Replies to post #60434 on Global Poletrusion Group Corp. (GPGC)

[wakeupdummy]

no..it doesn't take 90 days

How do companies notify their shareholders of a reverse stock split?

Companies may issue press releases notifying the public of a reverse stock split. If a company is required to file reports with the SEC, it may notify its shareholders of a reverse stock split on Forms 8-K, 10-Q and 10-K. A non-reporting company is required to notify the public through its current report filings on the OTCMarkets website.

In addition, all OTC issuers, reporting and non-reporting, that wish to do a reverse (or forward) stock split must comply with FINRA’s Rule 6490. Generally, a company must notify FINRA of its intentions at least ten (10) days prior to the desired effective date. A Corporate Action form must be filled out, and a processing fee will be charged. Normally, the issuer’s transfer agent takes care of the paperwork. See here for a fuller explanation: http://www.finra.org/Industry/Compliance/MarketTransparancy/UPC/FAQ/P117315#2-2

Once the request is processed, FINRA will set an ex-dividend date, and the split will be noticed on the Daily List. Issuers should avoid premature announcement of the split’s effective date; that date i only certain when the processing is complete and the dividend notice appears on the Daily List.

[YouOnlyLiveOnce]

Thought you said 90 days??