MIAMI, May 16, 2016 /PRNewswire/ -- Dolphin Digital Media (OTCBB: DPDM) is pleased to announce that it has completed its previously announced one-for-twenty reverse stock split of its common stock.
The Company's common stock will commence trading on a split-adjusted basis as of the opening of trading today. The trading symbol for the Company's common stock on OTC Markets, "DPDM" will instead be "DPDMD" for approximately 20 trading days, after which it will revert to the original symbol, "DPDM." Shareholders of record on May 10, 2016 will receive a transmittal letter from the Company indicating how they can exchange their current pre-reverse stock split share certificates for new post-reverse stock split share certificates. Banks, brokers, custodians or other nominees will be instructed to reflect the reverse stock split for their beneficial holders holding common stock in street name.
No fractional shares of the Company's common stock will be issued as a result of the reverse stock split; all fractional shares which would otherwise be required to be issued as a result of the reverse stock split will be rounded up to the nearest whole share.
About Dolphin Digital Media
Dolphin Digital Media has been a pioneer in the digital entertainment space since 2010, delivering premium original content to more than 500 million homes in 125 countries. Dolphin Digital Media recently produced the popular "South Beach" series on Hulu, and has also produced multiple Streamy-Award nominated projects including "Aim High" starring Jackson Rathbone and Aimee Teegarden (AOL) and "Cybergeddon" from Anthony E. Zuiker starring Missy Peregrym and Olivier Martinez (Yahoo). Dolphin Digital Media recently completed its acquisition of Dolphin Films, previously a wholly-owned subsidiary of Dolphin Entertainment. Dolphin Films' inaugural film is Max Steel, a live action, teen superhero origin story based on the world-renowned Mattel franchise.
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the Company's actual results, performance or achievements or industry results to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond the control of the Companies. The words "believes," "may," "will," "should," "would," "could," "continue," "seeks," "anticipates," "plans," "expects," "intends," "estimates" or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that projected results or events will be achieved.
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SOURCE Dolphin Digital Media