Business
Fortune Oil and Gas, Inc. announces 1 for 10 reverse split along with a name change to Manzo Pharmaceuticals is now effective
Fortune Oil and Gas, Inc. announces 1 for 10 reverse split along with a name change to Manzo Pharmaceuticals is now effective.
About this update from Manzo Pharmaceuticals, Inc.
[{"type":"text","content":"\n\n\n\nFortune Oil and Gas, Inc. announces 1 for 10 reverse split along with a name change to Manzo Pharmaceuticals is now effective\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nFortune Oil and Gas, Inc. announces 1 for 10 reverse split along with a name change to Manzo Pharmaceuticals is now effective\nPR Newswire\nMILFORD, Pa., Sept. 17, 2014\n\n\n\nMILFORD, Pa., Sept. 17, 2014 /PRNewswire/ -- Fortune Oil and Gas, Inc. (OTCPink:FOGC), today announced that it has officially changed its name to Manzo Pharmaceuticals, Inc. with the symbol (OTCPink : FOGCD). FINRA approved the change to take effect today, September 17, 2014. Also taking effect today is a ten for 1 reverse split.\n\nThe approval is a pivotal event in the company's progress according to CEO, Kenneth Manzo. Mr. Manzo explained, \"We could not proceed with the plan and still have any level of success without these changes approved. Making major advancements in the treatment of medical conditions and illnesses, we had to hold off with public announcements because the company name would not have made sense, and would have taken away from branding and marketing efforts that are so critical at these stages of the company's growth. I did originally say there would be no unnecessary dilution or reverse splits, and even though I did mean it wholeheartedly, it became clear that a reverse split was going to be absolutely necessary and unavoidable if we were to become successful. So, with the shareholder in mind, I did as small a reverse-split as I could, giving the shareholder one share post-split for every ten shares they held previously. A factor of ten will allow us to have some control over the float, and still offer shareholders a minimal price increase which hedges against a huge drop as we move forward.\" He went on to further explain, \" I know it is not a popular decision, but with the advancements we have in the queue, the incredible life-changing probiotics currently undergoing testing, and the very minimal need to do future issuances, there is no doubt in my mind that the company now has a real cha...