Bradenton, FL, January 10, 2017 (Newswire.com) - American Seniors Association Holding Group Inc (PINK SHEETS - ASMA) announces today that it has received clearance from FINRA to effect a 1-for-5 reverse stock split of Its outstanding common stock, which will be effective for trading purposes as of the commencement of trading on January 19, 2017. The stock split was approved by a majority vote of the shareholders and the Board of Directors on October 11, 2016 and the company filed an amended Articles of Incorporation with the State of Georgia on October 18, 2016. The company believes that by effecting the stock split they will be able to increase the liquidity and marketability of the common stock.
The reverse stock split will reduce the number of shares of the Company's outstanding common stock from 237,861,780 to approximately 47,572,356. The number of authorized shares of the Company's common stock and Par Value will remain unchanged. The reverse stock split will affect all holders of the Company’s common stock uniformly, and will not affect any stockholder’s percentage ownership interest in the Company or proportionate voting power.
To the extent the reverse stock split would result in a stockholder owning a fractional share, such stockholder will have the number of post-reverse split shares to which they are entitled rounded up to the next whole number of shares. No stockholders will receive cash in lieu of fractional shares. Shareholders wishing to tender pre-split shares for post-split certificates may do so at their expense by contacting the Company’s transfer agent, Vstock Transfer at 212-828-8436.
About American Seniors Association Holding Group, Inc.
American Seniors Association Holding Group, Inc, based in Bradenton, Florida is the owner and operator of the American Seniors Association. The American Seniors Association is a national conservative oriented membership organization that offers discounted products and services to Its members throughout the United States. These services and products are offered by national and global partners such as Liberty Mutual Insurance, LifeLock, FNBO, Hertz and Penske among others. Members receive discounts on Medicare, dental, home and auto insurance, travel discounts restaurant savings and much more. Please visit www.americanseniors.org for additional information or to become a member.
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements.” Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.
American Seniors Association
Source: American Seniors Association Holding Group, Inc