Category: Baystreet Newswire
Date: Tuesday, August 26, 2014
Las Vegas, NV / ACCESSWIRE / August 26, 2014 / Crown Equity Holdings Inc. (Pink: CRWE) today announced that a 1-for-2,000 reverse split of the Company's issued and outstanding common stock will occur at the market opening on August 27, 2014. As of that date, the Company's common stock will temporarily trade under the symbol "CRWED" for 20 business days, after which, the "D" will be removed and the symbol will revert to "CRWE".
"After careful analysis, the decision to implement this one-for-2,000- reverse stock split was made as a result of new rules were implemented on May 1, 2014 that require the Company's common stock to have a minimum bid price of $0.01 in order to remain on the OTC Bulletin Board. The Company believes that implementing the reverse stock split will result in the market price of its common stock being above $0.01 so that the Company's common stock will resume trading on the OTC Bulletin Board, as well as making the Company's stock more attractive to a broader group of investors," stated Kenneth Bosket, CEO and President of Crown Equity Holdings Inc.
With the effective reverse stock split, every two thousand (2,000) shares of common stock outstanding will automatically combine into one (1) new share of common stock with no change in par value per share.
No fractional shares will be issued. The Company will round up any fractional shares resulting from the reverse split to the nearest whole share.
About Crown Equity Holdings
Together with its digital network of websites, Crown Equity Holdings Inc. provides and offers advertising branding, marketing solutions and services to boost customer awareness, as well as merchant visibility as a worldwide online multi-media publisher. The Company launches, invests and manages select businesses, projects and real estate endeavors. For more information regarding Crown Equity Holdings Inc., please visit: http://www.crownequityholdings.com.
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new business opportunities and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE: Crown Equity Holdings Inc.