Light Engine Design Corp. Announces Reverse Stock Split
FINRA Completes Processing of Corporate Action to Effectuate 1/6 Reverse Split of Shares; Company also Reduces Authorized Shares from 500,000
(firmenpresse) - SCOTTSDALE, AZ -- (Marketwired) -- 12/21/16 -- (OTC PINK: TLED) announces that FINRA has completed processing the corporate action related to a 1/6 reverse split of the Corporation's issued and outstanding shares of common stock, effective Dec. 21, 2016. In addition, the Company has reduced the number of its authorized shares of common stock from 500,000,000 to 150,000,000.
The Company determined that it was desirable to reduce the number of outstanding shares of common stock in order to avoid negative market perceptions associated with OTC companies that have hundreds of millions of shares outstanding. These actions were taken in the wake of the Company's recent acquisitions of Dallas Lighting & Photonics and Tall Trees LED Company and accompany its recent name change, which better reflects the company's aggressive movement into the solid-state lighting (SSL) markets.
"These changes reflect a proactive approach to avoiding the stigma typically associated with OTC companies that have hundreds of millions of shares outstanding, as we move aggressively to grow these exciting synergistic businesses," stated CEO Robert Manes.
Dallas Lighting and Photonics is positioned to provide OEM design and manufacturing for leading SSL companies as well as developing its own product lines based on proprietary designs and patent pending technology. Tall Trees LED Company will continue to design and manufacture its highly advanced horticultural and related SSL products, taking advantage of DLP's design expertise and IP.
The Company will seek to be an industry pioneer in the research, development, manufacturing, and sales of state-of-the-art Solid-State Lighting (SSL). The Company will specialize in the design of advanced light engines and fixtures employing cutting edge light emitting diode (LED) and laser technologies for use in the entertainment, architectural/entertainment (architainment) and horticultural lighting industries.
Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
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Datum: 21.12.2016 - 15:30 Uhr
Sprache: Deutsch
News-ID 514337
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