DAVI LUXURY BRAND GROUP Announces Reverse Stock Split
10 5월 2012 - 9:15PM
Business Wire
DAVI LUXURY BRAND GROUP, INC. (OTC Bulletin Board: MDAVD)
("Davi" or the "Company") today announced that effective as of the
opening of trading on May 10, 2012, the Company effected a reverse
stock split of its outstanding shares of common stock on a 1-for-10
basis (the "Reverse Split") and a corresponding decrease in the
number of shares of its common stock that it is authorized to issue
(the “Share Decrease”). The Company effected the Reverse Split and
the Share Decrease pursuant to a Certificate of Change filed with
the Nevada Secretary of State.
Accordingly, as of the effective date of the Reverse Split, each
10 shares of issued and outstanding common stock will be converted
into 1 share of common stock. In addition, Davi's common stock will
trade under a new CUSIP number. The Company's ticker symbol will
remain unchanged (although a fifth-letter identifier "D" has been
appended to indicate the completion of the Reverse Split; after a
20 business-day period following the effective date of the Reverse
Split, Davi's ticker symbol will revert to "MDAV").
As a result of the Reverse Split, the Company's issued and
outstanding shares of common stock decreased from 76,040,000
pre-Reverse Split shares to 7,604,000 post-Reverse Split shares.
Pursuant to the Share Decrease, the number of authorized shares of
the Company's common stock has decreased from 750,000,000 to
75,000,000 shares of common stock. The foregoing actions were duly
approved by the unanimous written consent of Davi's Board of
Directors, without stockholder approval, pursuant to the Nevada
Revised Statutes.
It is not necessary for shareholders of the Company to exchange
their existing stock certificates for new stock certificates of the
Company in connection with the Reverse Split; provided, however,
that Davi shareholders may do so at their own cost. Please direct
any questions you might have concerning the Reverse Split to your
broker or the Company's transfer agent, Empire Stock Transfer Inc.,
at (702) 818-5898.
About Davi Luxury Brand Group, Inc.
Davi Luxury Brand Group, Inc. develops, licenses and markets
luxury skin care products using the antioxidants found in wine and
grapes. The Company markets skincare products under the “Davi Skin”
and “Davi” brand names. The products currently are sold and
distributed as amenities in hotel rooms of a chain of prestige
hotels and as in-flight amenities for first class and business
class passengers of an international airline. The Company intends
to develop, manufacture and market a line of high quality skin care
products that are sold as prestige products principally through
limited distribution channels to complement the images associated
with the “Davi Skin” and “Davi” brands. The Company's business plan
is to expand the targeted scope of its sales efforts to upscale
department stores, specialty retailers, prestige hotels and spas.
In addition, the Company plans to have its products available for
sale through its www.daviskin.com website.
Forward-Looking Statements:
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are subject to a number
of risks, uncertainties and assumptions, including those identified
under "Risk Factors" in Davi's most recently filed Annual Report on
Form 10-K and Quarterly Report on Form 10-Q. Actual results may
differ materially from those contemplated by these forward-looking
statements. Davi does not undertake to update any of these
forward-looking statements to reflect a change in its views or
events or circumstances that occur after the date of this
presentation.
(OTC Bulletin Board: MDAVD)
Davi Luxury Brand (CE) (USOTC:MDAV)
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부터 11월(11) 2024 으로 12월(12) 2024
Davi Luxury Brand (CE) (USOTC:MDAV)
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부터 12월(12) 2023 으로 12월(12) 2024
