Business
Inscor, Inc. Announces Name Change to Oicintra, Inc. and Reverse Stock Split
Inscor, Inc. Announces Name Change to Oicintra, Inc. and Reverse Stock Split.
About this update from Oicintra, Inc.
[{"type":"text","content":"\nInscor, Inc. Announces Name Change to Oicintra, Inc. and Reverse Stock Split \n\nInscor, Inc. Announces Name Change to Oicintra, Inc. and Reverse Stock Split\n\n\n HENDERSON, NV--(Marketwired - January 19, 2016) - Inscor, Inc. (OTC PINK: IOGAD), the provider of the low-cost FIT OPEB plan marketed to municipalities and corporations as a solution to funding retiree and other employee benefits, today announced that on January 14, 2016, the Financial Industry Regulatory Authority (\"FINRA\") approved and made effective a 1-for-10,000 reverse stock split of its common stock previously approved by a majority of the Company's stockholders. An amendment to the the Company's articles of incorporation reflecting a change of the Company's name to Oicintra, Inc. was also approved. Effective on January 14, 2016, shareholders received 1 share of common stock for every 10,000 shares of Inscor's issued and outstanding common stock and equivalents they owned. The Company's stock began trading on a split-adjusted basis on January 14, 2016.The reverse stock split effected all issued and outstanding shares of the Company's common stock. The reverse stock split reduced the total number of shares outstanding from approximately 330 million to approximately 33 thousand shares.As of January 14, 2016, the ticker symbol for the Common Stock changed to \"IOGAD\" for a period of 20 business days, after which the \"D\" will be removed from the Company's ticker symbol, and the new ticker symbol of \"OICT,\" reflective of its new name, will take effect.Pursuant to the Reverse Stock Split, the total number of shares of Common Stock held by each stockholder of the Company automatically converted into the number of shares of Common Stock equal to: (i) the number of issued and outstanding shares of Common Stock held by each stockholder immediately prior to the Reverse Stock Split divided by (ii) 10,000. The Company will issue one whole share of the post-Reverse Stock Split Common Stock to any stockholder who otherwise would have received a fractional share as a result of the Reverse Stock Split. As a result, no fractional shares will be issued in connection with the Reverse Stock Split and no cash or other consideration will be paid in connection with any fractional shares that would otherwise have resulted from the Reverse Stock Split. The Company treated stock...