Business
RECALL STUDIOS CHANGES ITS NAME TO PULSE EVOLUTION GROUP, INC. AND CONTINUES WITH PLANS TO UP-LIST TO NATIONAL STOCK EXCHANGE
RECALL STUDIOS CHANGES ITS NAME TO PULSE EVOLUTION GROUP, INC. AND CONTINUES WITH PLANS TO UP-LIST TO NATIONAL STOCK EXCHANGE.
About this update from Pulse Evolution Corp
[{"type":"text","content":"\nNewly Named Pulse Evolution Group Intends to Apply to NYSE American as FINRA Effectuates Name Change, Symbol Change, Share Authorization and Reverse Split\n New York, NY, Feb. 28, 2019 (GLOBE NEWSWIRE) -- Pulse Evolution Group, Inc. (OTCQB: BTOPD), formerly known as Recall Studios. Inc., a leading developer of hyper-realistic digital humans for entertainment, mixed reality and artificial intelligence, today announced FINRA effectuation of certain corporate actions, approved by a majority of the Company’s shareholders, which are intended to prepare and qualify the Company for application and up-listing to a national stock exchange. The corporate actions, which are more fully described in the Company’s definitive information statement filed with the Securities and Exchange Commission on January 7, 2019 include: Name Change: Recall Studios, Inc. has now become Pulse Evolution Group, Inc., in recognition of the global market reputation of its major operating subsidiary, Pulse Evolution Corporation; Stock Symbol Change: The Company’s stock symbol will change to “DGLF”, in recognition of the Company’s focus on ‘Digital Life’.  In accordance with FINRA requirements, the Company’s current stock symbol of “BTOP” will carry an additional letter ‘D’ as “BTOPD”, denoting a reverse stock split, for a period of 20 business days, before changing permanently to “DGLF”; Reverse Split and Increase in Authorized Shares: The Company’s common stock has undergone a reverse stock split at a ratio of 1-for-30, intended to reduce our overall share count and increase our minimum bid price (subject to market conditions). We have also increased our authorized shares as necessary to complete the conversion of our Series X preferred shares, issued in connection with the Pulse Evolution Corporation acquisition, into common shares.  The cumulative effect of the reverse split and the conversion of Series X preferred shares results in a current balance of total shares outstanding, as of February 28, 2019, of 22,700,544 shares. Planned Application to NYSE American: Based on shareholder equity last reported of $273 million, market capitalization in excess of $75 million, market value of public float in excess of $20 million, minimu...