SUNNY ISLES, Fla., Aug. 15, 2016 /PRNewswire/ -- Joey New York, Inc. (OTC: JOEY) today announced a 1-for-200 reverse split of its issued and outstanding shares of common stock.
Trading began on a post-split basis at the open on August 1, 2016 of the OTC marketplace under the symbol "JOEYD." After 20 trading days, the symbol will revert back to "JOEY." All fractional shares shall be rounded up.
Joey Chancis, CEO of Joey New York, stated, "By completing this reverse stock split, we expect to gain broader access to the institutional investment community and to take one of the necessary steps toward listing on a major exchange. This strengthened position will provide the availability of common stock necessary to fund future growth, expansion and transactions which could enable us to become a more diversified company."
About Joey New York, Inc.
Joey New York, Inc. through its wholly owned subsidiary RAR Beauty, LLC is the manufacturer and marketer of its Joey New York brand of quality skin care and beauty products. The Company's products are sold through various retailers, professional salons and spas and beauty websites within the United States and Internationally.
This press release may contain forward-looking statements that are neither historical facts nor assurances of the future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements are related to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, acceptance of our products among consumers and professionals, our need for additional capital, our ability to manage growth as well other risks identified in our filings with the SEC. Any forward-looking statement made by us in this press release is based only on information that is currently available to us and speaks only as of the date on which it was made. We undertake no obligation to publically update any forward-looking statement, whether written or oral, that be made from time to time, whether as a result of new information, future developments or otherwise.
Joey New York
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SOURCE Joey New York