MILPITAS, Calif., Sept. 7, 2011 /PRNewswire/ -- AmbiCom Holdings, Inc. (OTCQB: ABHI), a leader in the development of wireless products for medical equipment suppliers, today announced that it has received approval from FINRA for a one-for-eight (1-for-8) reverse split of its common shares, effective September 8, 2011.
For the next 20 days of trading, AmbiCom's common shares will trade on the OTCQB market under the symbol ABHID, after which the ticker symbol will revert to ABHI.
"With FINRA's approval of our previously announced reverse stock split, we expect to see reduced volatility in our trading, making our shares more attractive to institutional investors and other long-term focused holders," commented John Hwang, CEO and Chairman of AmbiCom. "We continue to believe the wireless and healthcare markets we focus on remain robust and intact and that our products and support will continue to remain in high demand with our end customers. We are excited about the prospects we see in our space and in adjacent markets."
AmbiCom is headquartered in Milpitas, California, and is a leading designer and developer of wireless products focusing on the wireless medical industry. The Company's wireless modules and devices are based on the Company's innovative application software for both Wi-Fi and Bluetooth technologies. AmbiCom is committed to wireless design and development of software and hardware, and to bringing new and innovative products to the wireless medical markets and other sectors. The Company plans to grow organically, and to augment that growth by selectively acquiring complementary products and technologies via acquisition opportunities deemed to be of strategic value.
This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Although the forward- looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements including, but not limited to, our ability to maintain our website and associated computer systems, our ability generate sufficient market acceptance for our shipping products and services, our inability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission from time to time which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward- looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Dave Fore, Client Manager and Senior Research Analyst, Hayden IR: (206) 395-2711 or firstname.lastname@example.org
SOURCE AmbiCom Holdings, Inc.