Evolution Fuels Announces One-for-Twenty Thousand Reverse Split Effective February 11, 2013
Evolution Fuels, Inc. (PINKSHEETS: EVFN) (the "Company") today announced that it has received approval from the Financial Industry Regulatory Authority ("FINRA") clearing the previously announced one-for-twenty thousand reverse stock split. According to FINRA's approval, the reverse stock split will take effect Monday, February 11, 2013 ("Effective Date"). On the Effective Date, the Company's trading symbol will change from "EVFN" to "EVFND" for approximately twenty business days after which time it will revert back to "EVFN." Upon the effectiveness of the reverse stock split, there will be approximately 4,132,113 shares of the Company's common stock issued and outstanding.
All records of the Company's transfer agent, Direct Transfer, will be updated to reflect the change. Shareholders who hold their shares in brokerage accounts or "street name" are not required to take any action to effect the exchange of their shares. Shareholders who have existing stock certificates will receive instructions from the transfer agent after the reverse stock split becomes effective.
Forward Looking Statements 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, as amended (the "Exchange Act") (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words "believe," "anticipate," "estimate," "expect," "intend," "plan," "project," "prospects," "outlook," and similar words or expressions, or future or conditional verbs such as "will," "should," "would," "may," and "could" are generally forward-looking in nature and not historical facts. These forward looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. We disclaim any intention to, and undertake no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.
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