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AFP Imaging Corporation (AFPC.OB) Announces a Reverse Stock Split



6/16/2010 8:36:38 AM

ELMSFORD, N.Y.--(BUSINESS WIRE)--AFP Imaging Corporation (OTC. AFPC.PK) announced that at a Special Meeting of its Shareholders held on June 15, 2010, an amendment to the Restated Certificate of Incorporation, as amended, was approved, which provided for a 1-for-500 reverse stock split for the Company’s common stock. Each 500 shares of the Company’s common stock issued and outstanding will be changed and reclassified into one fully paid share of the Company’s common stock. No fractional shares will be issued. Any holder of record of the Company’s common stock who would be entitled to a fractional share will receive a cash payment based on the average closing price of the Company’s common stock, as quoted on the Pink Sheets. Once the reverse stock split is completed there will be approximately 152,433 shares of common stock and common stock equivalents outstanding.

Read at BioSpace.com


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