Providence-based VOIP5000 Inc. (Pinksheets: VPFI) (Frankfurt, VQC) has announced a 50-to-1 reverse split of its common shares, effective Oct. 9.
Shareholders were to receive one share of VOIP5000 common stock for each 50 shares they currently own. “Odd lots will be rounded up,” the company said in its Market Wire news release, and “no fractional shares will be issued.”
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“The decision was based upon enhancing shareholder value,” said CEO Fotis Georgiadis,” and demonstrates our confidence in the longterm growth prospects of VOIP5000.”
No action by the shareholders is required, the news release said. Atlas Stock Transfer remains the company’s transfer agent, but the Pinksheets ticker symbol for VOIP5000 has changed from VPFV.PK to VPFI.PK, as of yesterday’s market opening.
VOIP5000 is a provider of “click-to-call” services under the Clixme name, and of other VoIP applications for online businesses.
