Data Call Technologies, Inc. Announces FINRA Approval of 1 for 5 Reverse Split
(firmenpresse) - HOUSTON, TX -- (Marketwire) -- 02/28/12 -- Data Call Technologies, Inc. (OTCBB: DCLTD), a Digital Signage Content Provider based in Houston, TX (the "Company"), today announced that the Company's reverse stock split of its outstanding shares of common stock on a one-for-five (1:5) ratio (the "Reverse Split") has been approved by FINRA effective Friday, February 24, 2012. The Reverse Split reduces the number of outstanding shares of common stock from approximately 99,382,100 shares to approximately 19,876,000 shares. The Reverse Split will not have any effect on the percentage ownership of any holders of the Company's common stock.
Timothy E. Vance, Chief Executive Officer of Data Call Technologies, said, "The Company believes that the Reverse Split will not only increase the price of the Company's common stock on the OTCBB, it should also have the direct effect of generating increased investor interest, enhancing our ability to raise additional equity financing from existing shareholders as well as new investors. We fully expect that this will enable us to expand our business operations and increase our digital signage line to improve our customer base thereby increasing revenues, which our Board of Directors believes will be in the best interest of all of our shareholders."
Mr. Vance further stated, "The Company has been on the cutting edge of pioneering and successfully providing News and Infotainment content for the digital signage market since the industry's inception. We are currently developing new technology to capitalize on lateral markets to optimize the use of our products."
Shareholders who are currently holding common share certificates are not required to send the certificates to Corporate Stock Transfer, Denver, CO, the Company's transfer agent, to exchange old certificates for new post-reverse certificates because Corporate Stock Transfer will adjust their records to reflect the Reverse Split. Shareholders whose shares are held in their brokerage accounts will have their ownership position adjusted automatically, without taking any further action.
Statements contained herein, which are not historical facts, including statements about plans and expectations regarding business areas and opportunities, demand and acceptance of new or existing businesses, capital resources and future financial results are "forward-looking" statements as contemplated by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, including, but not limited to, government regulation, taxation, spending, competition, general economic conditions and other risk factors which could cause actual results to differ materially from those projected or implied in the forward-looking statements. There may be other factors not mentioned above that may cause actual results to differ materially from any forward-looking information. The company takes no obligation to update or correct forward-looking statements and takes no obligation to update or correct information prepared by third parties that are not paid for by the Company.
CONTACT
Tim Vance
1-866-219-2025
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Datum: 28.02.2012 - 10:18 Uhr
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