IRVINE, CA--(Marketwired - Nov 26, 2013) - Ubiquity Broadcasting Corporation (OTCQB: UBIQ) (the "Company") today announced that it has received approval from the Financial Industry Regulatory Authority ("FINRA") clearing a 4:1 forward stock split of the Company's issued and outstanding stock. Fractional shares will be rounded upward. The new shares shall be payable upon surrender. The Corporate Actions are effective with the Nevada Secretary of State as of November 21, 2013. However, the effectiveness of the Forward Stock Split is subject to approval by FINRA.
Christopher Carmichael said that, "Ubiquity is entering a strong growth phase, and we believe this is the right time to take these steps to improving our equity structure, which combined with our efforts operationally, should benefit our shareholders. When a company executes a forward stock split from a position of strength, we believe it can have positive results, including increasing investor interest, improving stock performance and liquidity. We believe that the implementation of this stock split will place our stock price in a more attractive trading range for a broader-base of long-term, growth-oriented investors and have a positive impact on our ability to drive the future growth of our business."
For more information about the transactions contemplated herein, please see the Company's latest 8-K filing with the Securities and Exchange Commission.
Safe Harbor and Informational Statement
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, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. This document includes "forward-looking statements" within the meaning of the securities laws. The words "may," "could," "should," "estimate," "project," "forecast," "intend," "expect," "anticipate," "believe," "target," "plan," "providing guidance" and similar expressions are intended to identify information that is not historical in nature.
This document contains forward-looking statements relating to the forward split of the Company's stock and expectations about the implications. All statements, other than historical facts, including, but not limited to: the expected benefits of the transaction such as improved operations, growth potential, market profile, the competitive ability and position of Ubiquity Broadcasting Corporation (or the "Company") and any assumptions underlying any of the foregoing, are forward-looking statements. Such statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. You should not place undue reliance on such statements. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, factors as detailed from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including Ubiquity Broadcasting Corporation's Annual Reports on Form 10-K for the year ended December 31, 2012, and Quarterly Reports on Form 10-Q for the quarter ended September 30, 2013, and in other materials that have been filed by Ubiquity Broadcasting Corporation in connection with the asset purchase, which are available on the SEC's web site (www.sec.gov).
All forward-looking statements contained in this document and the documents referenced herein are made only as of the date of the document in which they are contained, Ubiquity Broadcasting Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
About Ubiquity Broadcasting Corp.
Based in Irvine, CA. Ubiquity is a vertically integrated, technology-focused media company. Ubiquity is focused in five specific areas with a robust portfolio of patents and intellectual property. First, the Company has developed an intuitive user interface making access to all content from any device in a simple, consistent format. Second, Ubiquity enables the search and identification of any object and image in all video and digital media. Third, it has developed a platform for mobile transaction including the integration of payments, money transfers, coupons and gifts. Ubiquity has also developed an industry-leading, intuitive, immersive consumer experience for all web-based activity. Finally, the company allows for the personalization of all content, whether public or private, in a unique accessible way.
Through Ubiquity Labs we are leveraging an extensive portfolio of intellectual property spanning Web 3.0, immersive advertising, video compression, content distribution, eCommerce, and mobile applications to support the commercialization of new technologies. In addition, we intend to pursue strategic licensing opportunities. Through Ubiquity Studios, we provide we engage in the commercial production, distribution and exploitation of entertainment products including but not limited to television, commercials and film. For more information go to www.ubiquitycorp.com.