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Amazonas Florestal Ltd. Announces Reverse Stock Split
Amazonas Florestal Ltd. Announces Reverse Stock Split.
About this update from Amazonas Florestal Ltd
[{"type":"text","content":"\n \n \n Amazonas Florestal Ltd. Announces Reverse Stock Split\n \n \nAmazonas Florestal Ltd. Announces Reverse Stock Split\n \n MIAMI, FL--(Marketwired - Mar 8, 2016) - Amazonas Florestal, Ltd. (www.azflusa.com) (OTC PINK: AZFLD), a natural resources company dedicated to innovative, sustainable forest management, the certification and sales of carbon credits, and Industrial Hemp, today announced a reverse stock split of the Company's issued and outstanding common stock, $0.001 par value, at a ratio of one new share for every 1,000 shares currently outstanding, effective Wednesday, March 2, 2016.\n Every 1,000 shares of the Company's issued and outstanding common stock will be automatically combined into one share of common stock. This will reduce the number of outstanding shares from approximately 17,515,996,000 shares to approximately 17,515,996 shares. The Company will trade under the symbol AZFLD for 20 days.\n The reverse stock split will not affect any shareholder's ownership percentage of the Company's common stock, except to the limited extent that the reverse stock split would result in any shareholder owning a fractional share. Fractional shares of common stock will be rounded up to the nearest whole share. After the reverse stock split takes effect, shareholders holding physical share certificates will receive instructions from Bay City Transfer Agency & Registrar, Inc., the Company's transfer agent, regarding the process for exchanging their shares.\n Nitin Amersey, Chief Executive Officer of Amazonas Florestal, commented, \"The Company plans on filing a registration statement (Form S-1) with the SEC to become fully reporting. We expect to do so by March 30th, 2016. Achieving full-reporting status with the SEC, completing our carbon studies, and certifying our carbon holdings, on all our Brazilian properties are initiatives that are of utmost importance to management. Once certified through the methodology provided in the REDD+ Programs, a United Nations Initiative, the Company's carbon credits can be sold on the voluntary market, thus driving increased revenue to the Company and bringing greater value to shareholders. We look forward to hitting these milestones over the next 15 months and to keeping our shareholders updated throughout the process.\"\n Based on comparable studies performed in surrounding properti...