iFinix Corp. Announces Reverse Stock Split
September 19 2012 - 4:34PM
Marketwired
iFinix Corp., a Nevada corporation (PINKSHEETS: INIX) (the
"Company") authorized on July 3, 2012 a reverse stock split of one
for one thousand five hundred (1:1,500) of its total issued and
outstanding shares of common stock (the "Reverse Stock Split"). On
July 3, 2012, the shareholders holding a majority of the total
issued and outstanding shares approved the Reverse Stock Split. The
Board of Directors considered certain factors regarding approval of
the Reverse Stock Split including, but not limited to: (i) possible
reluctance of brokerage firms and institutional investors to
recommend lower-priced stocks to their clients or to hold in their
own portfolios; (ii) current trading price of the Company's shares
of common stock on the OTC Pink Sheet Market and potential to
increase the marketability and liquidity of the Company's common
stock; and (iii) desire to meet future requirements of per-share
price and net tangible assets and shareholders' equity relating to
admission for trading on other markets.
The Reverse Stock Split was announced by FINRA on its daily list
on September 18, 2012. The Reverse Stock Split is effectuated on
September 19, 2012 upon filing the appropriate documentation with
FINRA. The Reverse Stock Split decreased the Company's total issued
and outstanding shares of common stock from 2,863,614,415 to
1,909,076 shares of common stock. The common stock par value will
remain unchanged. The shareholder record date is September 19,
2012.
About iFinix Corp.
iFinix Corp. is a company offering an integrated and advanced
trading suite which combines order routing, trade management,
charting, analytical information, news and fundamental data from
major data and information sources into a single workstation.
iFinix Corp. is also planning on acquiring various operating
businesses. For more information, please visit:
http://www.ifinix.com
Forward-Looking Statements
You should not place undue reliance on forward-looking
statements in this press release. This press release contains
forward-looking statements that involve risks and uncertainties.
Words such as "will," "anticipates," "believes," "plans," "goal,"
"expects," "future," "intends," and similar expressions are used to
identify these forward-looking statements. Actual results could
differ materially from those anticipated in these forward-looking
statements for many reasons, including the risks we face as
described in this press release. For further information about
iFinix Corp., please refer to its website at
http://www.iFinix.com
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