Oakland Park, FL - January 27, 2015 - InvestorsHub NewsWire
- Biostem Technologies, Inc. (OTC:
BSEM), today announced that it has completed it is effecting a
1-for-400 reverse split of its common stock, for all stockholders
of record as of January 12th, //2015, effective as of the
commencement of trading January 27th, 2015.
“Completing this reverse stock split is an important step in our
plan to improve our company’s capital structure, increase our per
share market price, and improve the company's stock to become
more attractive to a broader group of investors and establish
Biostem Technologies as a highly-regarded, biotechnology company.
In addition, this recapitalization should allow us to Improve our
OTC Markets Group listing, which we expect will
provide improved confidence as we continue to advance Biostem
Technologies towards our future strategy of up-listing to a
national stock exchange and to raise awareness and visibility with
the biotech investors.” stated Jason Matuszewski, Chairman and
President of Biostem Technologies Inc.
As a result of the reverse stock split, every 400 shares of
common stock will be combined and reclassified into one share of
the company’s common stock. The company’s symbol will remain
unchanged, however, the stock will trade under the symbol “BSEMD”
with the “D” added for 20 trading days to signify that the reverse
stock split has occurred.
No fractional shares will be issued in connection with the
reverse stock split. Any fractional shares resulting from the
reverse stock split will be rounded up to the nearest whole share.
The number of shares of common stock underlying the options,
warrants, convertible securities or other rights to acquire shares
of common stock will be adjusted accordingly.
About Biostem Technologies, Inc. (BSEM):
Biostem Technologies, Inc. is focused on helping individuals
protect and ensure their future quality of life through the
practice of regenerative medicine in the United States and the
Dominican Republic. BSEM’s mission is not only to allow patients to
store their Stem Cells for future use, but also perform patient
funded stem cell therapies ranging from sports injuries to
degenerative diseases such as MS, Arthritis, Degenerative Heart
Diseases, Diabetes and a host of experimental therapies in the
brain trauma disease sector including CTE. Our goal is to become a
global leader in establishing protocols that can be patented and
utilized to heal patients around the world.
Forward-Looking Statements ?Except for statements of historical
fact, the matters discussed in this press release are forward
looking and made pursuant to the Safe Harbor provisions of the
Private Securities Litigation Reform Act of 1995. "Forward-looking
statements" describe future expectations, plans, results, or
strategies and are generally preceded by words such as "future,"
"plan" or "planned," "expects," ”believe” or "projected."
These forward-looking
statements reflect numerous assumptions and involve a variety of
risks and uncertainties, many of which are beyond the company's
control that may cause actual results to differ materially from
stated expectations. The Company disclaims any obligation to
update or revise any forward-looking statements.
Contact:
Biostem Technologies, Inc.
Phone: 954-380-8342
Website: http://www.biostemtech.com
Email: info@biostemtech.com
Twitter: @Biostemtech
