SCOTTSDALE, Ariz., June 23, 2016 /PRNewswire/ -- America's Suppliers, Inc. (OTC Markets-Pink: AASL), announced the results of its 2016 Annual Meeting of Stockholders, held on Monday, June 20, 2016. Stockholders re-elected each of Christopher Baker, Byron Bergren, Eric Best, Justiniano Gomes, Marc Joseph, Paul Klapper, and Vincent Pino to the Board of Directors (the "Board"). The stockholders approved an amendment to the Company's Certificate of Incorporation to implement a reverse stock split of the Company's issued and outstanding shares of common stock at a ratio of 1-for-10,000. The Company anticipates that the reverse stock split will be effected in the upcoming weeks. No fractional shares will be issued in connection with the reverse stock split. Any fractional share of common stock that would otherwise have resulted from the reverse stock split will entitle a holder to receive a cash payment equal to $0.10 multiplied by the number of shares of common stock held by such stockholder that would otherwise have been exchanged for a fractional share.
Stockholders who are holding their shares in electronic form at brokerage firms do not need to take any action, as the effect of the reverse stock split will automatically be reflected in their brokerage accounts. The Company's transfer agent, Computershare, will provide instructions to stockholders of record regarding the process for exchanging share certificates and all book-entry or other electronic positions representing issued and outstanding shares of the common stock will be automatically adjusted.
Cautionary Statement Concerning Forward-Looking Statements
Statements used in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. These forward-looking statements are based upon the current expectations and beliefs of Company management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. The information contained in this press release is as of the date of this press release. Notwithstanding changes that may occur with respect to matters relating to any forward looking statements, the Company does not expect to, and disclaims any obligation to, publicly update any forward-looking statements whether as a result of new information, future events or otherwise. The Company, however, reserves the right to update such statements or any portion thereof at any time for any reason.
About America's Suppliers, Inc.
America's Suppliers is the parent company of DollarDays International which is a virtual warehouse headquartered in Scottsdale, Arizona. Since 2001, DollarDays has offered small businesses and nonprofits wholesale pricing on more than 200,000 products.
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SOURCE America’s Suppliers, Inc.