NEW YORK, Feb. 17, 2016 /PRNewswire/ -- CÜR Media, Inc. (OTCBB: CURM) (OTCBB: CURMD) today announced a reverse stock split of its shares of common stock at a ratio of 1-for-13, the purpose of which is to obtain a listing on the Nasdaq Capital Market. At the market open on February 17, 2016, CÜR Media, Inc. common stock will begin trading on a split-adjusted basis.
As a result of the reverse stock split, the Company's issued and outstanding shares of common stock will decrease to approximately 2,440,019 post-split shares from approximately 31,720,247 pre-split shares
The Company's common stock will trade under the ticker symbol "CURMD" for a period of 20 business days after the reverse split has been effected, and thereafter under the ticker symbol "CURM".
About CÜR Media, Inc.
CÜR Media, Inc. has created CÜR (pronounced 'cure') Music, a next generation social, mobile, and web streaming music application that goes beyond the limitations of traditional music streaming services, unlocking the truly expressive nature of an individual's connection with their music by fostering personalization, sharing and creativity. For more information, visit http://www.curmusic.com.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the development of a commercially viable streaming music product, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance, (iv) the Company's ability to negotiate economically feasible agreements with the major and independent music labels and publisher rights organizations, and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii), (iv) and (v) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain adequate financing, the length of time associated with development of mobile applications and related insufficient cash flows and resulting illiquidity, the Company's inability to expand the Company's business, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's failure to implement the Company's business plans or strategies.
SOURCE CUR Media, Inc.