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Both were seated at the site of the forward split in the fuselage.
We thank you for your calls and questions and hope that this will clarify the forward split.
Subsequent to the forward split, the Company will have 80,969,502 shares of common stock issued and outstanding.
Forward Split - Procedure a corporation would use to increase the number of shares outstanding without changing shareholders' equity.
At that time, the Board of Directors approved the forward split requiring a surrender of shares.
This would be accomplished through a 1-for-111 reverse split of the Corporation's common stock to be followed immediately by a 111-for-1 forward split.
CEO, Troy Lyndon, says, "The purpose of this forward split is to give shareholders increased leverage and liquidity.
The net effect will be that all shareholders owning at least 10,000 shares before the reverse split will own the same number of shares after the forward split.
From time to time, companies will issue a reverse split concurrently with a forward split, making a reverse/forward split.
Then passed a rope or two out at the most forward split and in at the aft split, and bowsed inwards, and so tautened the tapes.
Park Place would also like to update shareholders regarding the 10 for 1 forward split of the Company's authorized and issued and outstanding common stock announced July 30, 2009.
(OTC Bulletin Board: COFF) has approved a forward split of the company's common stock on a three-for-one basis.
From 1926 to 1991, according to Professors Desai and Jain, the average stock undergoing a forward split outperformed the market by 6.8 percent over the year after the split's announcement.
FINRA has all of the required documentation to effect the forward split and we are waiting on FINRA to advise the Effective date.
The company is advised that the change in par value and the receipt of the new stock pursuant to the forward split will not be subject to United States federal income tax under existing laws.
The timing of the forward split will be determined by the Board of Directors at a future date based upon completion of certain required filings with the SEC and the State of New Jersey.
The forward split will require shareholders to tender their existing stock certificates to receive new, post-split certificate evidencing the increased number of common shares resulting from the eleven (11) from ten (10) forward common stock split.
Confirmation of this confidence factor comes from the performance of stocks undergoing the opposite type of split - the regular type, known formally as a forward split - in which a company increases the number of shares while reducing their price.
In addition Extreme Mobile Coatings Corp. Ltd. has completed a forward split of two (2) new ordinary shares for each original one (1) ordinary share, resulting in a total of 35,608,636 issued and outstanding shares of stock.
Park Place Energy President David Johnson said " This is a very exciting time for Park Place, we have broadened share ownership and increased trading liquidity with the announcement of a forward split and the opportunities we are finding in Europe have solid reserves and fundamentals."
From the Effective date, our common stock will have a new CUSIP number which will denote the forward split shares, allowing industry to identify pre-split shares (bearing the old CUSIP) from post-split shares, bearing the new CUSIP.
The reverse split will be followed immediately by a 100:1 forward split of the Company's common shares, which will return all shareholders owning more than 100 shares to the same number of shares they owned prior to the reverse and forward split transactions.