Innovativ Media Group (INMG) to Split Its Stock, Decrease Authorized Shares and Pursue an OTCQB Listing
(firmenpresse) - LOS ANGELES, CA -- (Marketwired) -- 04/20/16 -- Innovativ Media Group, Inc. (OTC PINK: INMG) ("Company"), announced that in order to improve shareholder liquidity, attract new shareholders and investors and to pursue acquisition strategies, the Company has reversed split its common stock at a ratio of 500 to 1, effective today, and it intends to substantially decrease its authorized shares and to seek an upgraded listing on the OTCQB by the end of 2016.
Company CEO Tom Coleman said, "We believe that these corporate actions are in the best interest of all existing and prospective shareholders as they will allow us to take advantage of our strong financial position and to grow the Company and business in a manner not achievable previously."
Innovativ Media Group (Innovativ) is a developer, producer and distributor of digital entertainment and other multi-media content. It has acquired many of the assets of Lux Digital Pictures including a library of feature motion pictures and, via New Broadway Cinema, develops adaptations of stage shows utilizing its trademarked DigiTheater™ Virtual Reality process. Innovativ also operates The Alien Interview Channel on YouTube, in partnership with FullScreen, Inc., is producing the new web series "Mountains of Madness" and is a principal in the Film Finance Exchange.
This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such.
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Datum: 20.04.2016 - 13:30 Uhr
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News-ID 465290
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