SHANGHAI, June 27, 2017 /PRNewswire/ -- Sino Fortune Holding Corporation (OTCQB: SFHD) ("Sino Fortune" or the "Company"), a leading online financial credit facility solution provider servicing SMEs and individual borrowers in China, today announced that its Board of Directors has approved a one (1) -for- five (5) reverse stock split (the "Reverse Split") of its authorized and issued and outstanding shares of common stock (the "Common Stock"). The Reverse Split was effected by the Company filing a Certificate of Change with the Secretary of State of the State of Nevada on June 20, 2017. The Company is currently seeking approval of the Reverse Split by the Financial Industry Regulatory Authority ("FINRA"). Upon approval of the Reverse Split by FINRA, the Company's Common Stock will reflect the Reverse Split on the OTCQB Marketplace, where it is currently quoted under the symbol "SFHD".
As a result of the Reverse Split, every five issued and outstanding shares of the Company's Common Stock will automatically be combined into one issued and outstanding share. This will reduce the total number of issued and outstanding shares of Common Stock from 361,820,246 to approximately 72.36 million, and the Company's authorized shares of Common Stock will also be reduced from 2,990,000,000 to 598,000,000. No fractional shares will be issued. All fractional shares created by the Reverse Split will be rounded up to the nearest whole share.
For further information regarding the Reverse Split, please refer to the Company's Form 8-K filed on June 26, 2017 with the Securities and Exchange Commission (the "SEC") and available on the SEC website at http://www.sec.gov.
About Sino Fortune Holding Corporation
Founded in 2013, Sino Fortune Holding Corporation ("Sino Fortune") is a leading online financial credit facility solution provider servicing under-served SME and individual borrowers in China. Through operating an electronic online financial platform, www.hyjf.com, the Company matches investors with SME and individual borrowers in China. The Company also sets aside risk reserve funds with the aim of limiting losses to investors from borrower defaults. In addition, the company provides investors with access to a liquid secondary market, giving them an opportunity to exit their investments before the underlying loans become due. For more information, please visit: ir.hyjf.com.
This press release may contain projections or other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) and are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements.
For investors and media inquiries please contact:
At the Company:
Tony Tian, CFA
Weitian Group LLC
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sino-fortune-holding-corp-announces-reverse-stock-split-300480242.html
SOURCE Sino Fortune Holding Corporation