OTC Bulletin Board

MICT Appoints Specialist Legal Counsel and Team of Expert Advisors to Investigate Suspected Market Manipulation and Illegal Naked Short Selling in Company’s Stock and Take Appropriate Action

Retrieved on: 
Tuesday, February 7, 2023
Lawyer, OTC Bulletin Board, NYSE, Commerce, Acquisition, Pennsylvania Office of General Counsel, Sale, Depression, MICT, General counsel, Share repurchase, Insurance, Bank, Security (finance), Financial adviser, Risk management, Management

The Board recognizes that it has a fiduciary duty to fully investigate the suspected market manipulation of the Company’s stock.

Key Points: 
  • The Board recognizes that it has a fiduciary duty to fully investigate the suspected market manipulation of the Company’s stock.
  • In the event there has been any form of market manipulation, including naked short selling, spoofing and/or the sale of synthetic shares, the Board will take appropriate actions and seek restitution.
  • The Board and its advisors will also provide evidence of any unlawful activities to the relevant authorities and regulators.
  • “The magnitude of this disconnect has prompted us to take decisive action, including through the appointment of experienced securities legal counsel and other special advisors, to fully investigate our concerns and take appropriate action.

UNITY Biotechnology Reports Granting of New Employment Inducement Award

Retrieved on: 
Wednesday, January 18, 2023
SAN, OTC Bulletin Board, Financial compensation, Unity Biotechnology, Biotechnology, Ageing, UBX, UNITY, Therapy, Pharmaceutical industry

SOUTH SAN FRANCISCO, Calif., Jan. 18, 2023 (GLOBE NEWSWIRE) -- UNITY Biotechnology, Inc. (“UNITY”) [NASDAQ: UBX], a biotechnology company developing therapeutics to slow, halt, or reverse diseases of aging, today announced that from January 3, 2023, through January 17, 2023, the Compensation Committee of the Board of Directors (the “Board”) granted a new employee a stock-based award covering an aggregate of 900 shares of UNITY common stock, including options to purchase an aggregate of 900 shares of UNITY common stock.

Key Points: 
  • SOUTH SAN FRANCISCO, Calif., Jan. 18, 2023 (GLOBE NEWSWIRE) -- UNITY Biotechnology, Inc. (“UNITY”) [NASDAQ: UBX], a biotechnology company developing therapeutics to slow, halt, or reverse diseases of aging, today announced that from January 3, 2023, through January 17, 2023, the Compensation Committee of the Board of Directors (the “Board”) granted a new employee a stock-based award covering an aggregate of 900 shares of UNITY common stock, including options to purchase an aggregate of 900 shares of UNITY common stock.
  • The stock-based award was granted pursuant to the UNITY 2020 Employment Inducement Incentive Plan, as amended, which was approved by the Board in March 2020 to provide for grants to newly hired employees as a material inducement for them to commence employment with UNITY in accordance with Nasdaq Stock Market Rule 5635(c)(4).

Summit Bancshares, Inc. Announces a Special Dividend

Retrieved on: 
Thursday, January 19, 2023
Banking, Professional Services, Finance, Summit Bank, OTC Bulletin Board, Security (finance)

The Board of Directors of Summit Bancshares, Inc. at a meeting held on January 18, 2023, in recognition of the bank’s 41st year in business, declared a one-time special cash dividend of $0.41 per share, payable on February 8, 2023, to holders of record as of the close of business on January 25, 2023.

Key Points: 
  • The Board of Directors of Summit Bancshares, Inc. at a meeting held on January 18, 2023, in recognition of the bank’s 41st year in business, declared a one-time special cash dividend of $0.41 per share, payable on February 8, 2023, to holders of record as of the close of business on January 25, 2023.
  • Summit Bancshares, Inc. (OTC Bulletin Board: SMAL) is the parent company of Summit Bank.
  • View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005827/en/

Genius Group Appoints Timothy Murphy To Lead Illegal Trading Task Force

Retrieved on: 
Thursday, January 19, 2023
Other Education, Continuing, Technology, University, Primary, Secondary, Education, Training, Other Technology, Mass meeting, Person, OTC Bulletin Board, Communication, NYSE, LLP, UN Counter-Terrorism Implementation Task Force, Share repurchase, Management, Holding company

This action plan includes creating a Board-led ‘Illegal Trading Task Force’ to actively pursue all possible actions together with the regulators in their discovery and prosecution of persons engaging in market manipulation involving the ordinary shares of Genius Group.

Key Points: 
  • This action plan includes creating a Board-led ‘Illegal Trading Task Force’ to actively pursue all possible actions together with the regulators in their discovery and prosecution of persons engaging in market manipulation involving the ordinary shares of Genius Group.
  • This Task Force will be led by Timothy Murphy, a Genius Group Director and former Deputy Director of the F.B.I., Richard Berman, also a Genius Group Director and chair of the Company’s Audit Committee, and Roger Hamilton, the CEO of Genius Group.
  • Genius Group expects to provide further details about this proposed special dividend shortly.
  • Exploring the possibility of a dual listing of Genius Group’s ordinary shares, in the future, which management believes could make market manipulation by illegal naked short selling more difficult.

Mercurity Fintech Holding Inc. Board Approves Proposals, Including Share Consolidation and ADR Ratio Change

Retrieved on: 
Wednesday, January 4, 2023
Transfer, American depositary receipt, Bangladesh Securities and Exchange Commission, Citibank, ADR Institute of Alberta, MFH, Deposit, OTC Bulletin Board, ADR, Documentation, Bank

The Board approved the proposal on the share consolidation to the authorized share capital (the “Share Consolidation”) at a ratio of four hundred (400)-for-one (1) with the par value of each ordinary share changed to US$0.004 per ordinary share.

Key Points: 
  • The Board approved the proposal on the share consolidation to the authorized share capital (the “Share Consolidation”) at a ratio of four hundred (400)-for-one (1) with the par value of each ordinary share changed to US$0.004 per ordinary share.
  • Following the Share Consolidation, the authorized share capital of the Company will be US$250,000 divided into 62,500,000 ordinary shares with a par value of US$0.004 each (the "Ordinary Share").
  • Further, as approved by the Board, the Company will effect a simultaneous change of the American Depositary Receipts (“ADRs”) to ordinary share ratio from 1-to-360 to 1-to-1 (the “ADR Ratio Change”).
  • “The Share Consolidation, the ADR Ratio Change and termination of the ADR program are all positive from our company’s perspective,” said Shi Qiu, the Company’s Chief Executive Officer.

Castor Maritime Inc. Announces Filing of a Revised Registration Statement for the Proposed Spin-Off of its Tanker Fleet

Retrieved on: 
Friday, December 30, 2022
Bangladesh Securities and Exchange Commission, Security (finance), CTRM, Handysize, OTC Bulletin Board

In the proposed spin-off, Castor shareholders will receive one common share of Toro for every ten Castor common shares held at the close of business on December 6, 2022 (the “Record Date”).

Key Points: 
  • In the proposed spin-off, Castor shareholders will receive one common share of Toro for every ten Castor common shares held at the close of business on December 6, 2022 (the “Record Date”).
  • Castor shareholders do not need to take any action to receive Toro shares to which they are entitled, and do not need to pay any consideration or surrender or exchange Castor common shares.
  • Fractional Toro common shares will not be distributed to Castor shareholders.
  • The information in the filed registration statement on Form 20-F is not final and remains subject to change.

Oragenics, Inc. Discloses One-for-Sixty Reverse Stock Split

Retrieved on: 
Friday, December 23, 2022
Biotechnology, Infectious Diseases, COVID-19, Health, Pharmaceutical, Transfer, COVID-19, Risk, Reverse stock split, NYSE, Infection, NYSE American, Exercise, OTC Bulletin Board, Security (finance)

Oragenics, Inc. (NYSE American: OGEN) (“Oragenics” or the “Company”), a biotech company dedicated to fighting infectious diseases including COVID-19, today announced that its Board of Directors (the “Board”) on December 22, 2022 approved a 1-for-60 reverse stock split of the Company’s issued and outstanding shares of common stock, par value $0.001 per share, accompanied by a corresponding decrease in the Company’s authorized shares of common stock (the “Reverse Stock Split”), such that, following the consummation of the Reverse Stock Split, the number of authorized shares of common stock will be reduced from 250,000,000 shares to 4,166,666 shares.

Key Points: 
  • Oragenics, Inc. (NYSE American: OGEN) (“Oragenics” or the “Company”), a biotech company dedicated to fighting infectious diseases including COVID-19, today announced that its Board of Directors (the “Board”) on December 22, 2022 approved a 1-for-60 reverse stock split of the Company’s issued and outstanding shares of common stock, par value $0.001 per share, accompanied by a corresponding decrease in the Company’s authorized shares of common stock (the “Reverse Stock Split”), such that, following the consummation of the Reverse Stock Split, the number of authorized shares of common stock will be reduced from 250,000,000 shares to 4,166,666 shares.
  • As a result of the Reverse Stock Split, the Company’s common stock is expected to begin trading on a split-adjusted basis when the markets open on January 23, 2023.
  • As a result of the Reverse Stock Split, every 60 pre-split shares of common stock outstanding will automatically combine into one new share of common stock without any action on the part of holders, and the number of issued and outstanding common shares will be reduced from approximately 117.6 million shares to approximately 1.9 million shares.
  • The Reverse Stock Split will neither affect the par value of the common stock nor will it affect the Company’s authorized preferred stock, except to affect, where applicable, the conversion rates of outstanding shares of preferred stock.

NuZee Announces Intent to Effect 1-for-35 Reverse Stock Split

Retrieved on: 
Tuesday, December 27, 2022
Transfer, Coffee, Conversation, Security (finance), Bangladesh Securities and Exchange Commission, Analysis, Result, COVID-19, Marketing, Financial condition report, State, Multimedia, OTC Bulletin Board, File, Risk, CUSIP, Exercise, Special, Shareholder

RICHARDSON, Texas, Dec. 27, 2022 /PRNewswire/ -- NuZee, Inc. (NASDAQ: NUZE) ("NuZee" or "the Company"), a leading U.S. producer and co-packer of single serve coffee formats, announced today that it intends to effect a 1-for-35 reverse stock split of its issued and outstanding shares of common stock.

Key Points: 
  • RICHARDSON, Texas, Dec. 27, 2022 /PRNewswire/ -- NuZee, Inc. (NASDAQ: NUZE) ("NuZee" or "the Company"), a leading U.S. producer and co-packer of single serve coffee formats, announced today that it intends to effect a 1-for-35 reverse stock split of its issued and outstanding shares of common stock.
  • The Board has since exercised such discretion to effect a 1-for-35 reverse stock split.
  • The 1-for-35 reverse stock split will automatically convert 35 current shares of the Company's common stock into one share of common stock.
  • The reverse stock split did not change the par value of the common stock or the authorized number of shares of common stock.

Hall of Fame Resort & Entertainment Company Announces Board's Approval of Reverse Stock Split Ratio and Effective Date

Retrieved on: 
Friday, December 23, 2022
Food and Drug Administration Amendments Act of 2007, Common stock, Amendment, Hall, Partnership, Growth, COVID-19, Entertainment, Common, Multimedia, Pro Football Hall of Fame, OTC Bulletin Board, Unemployment, CUSIP, Special, 1964 NFL Draft, Security (finance)

The new CUSIP number for the Common Stock following the reverse split will be 40619L201.

Key Points: 
  • The new CUSIP number for the Common Stock following the reverse split will be 40619L201.
  • The reverse split was approved by the Company's stockholders at a special meeting of stockholders held on September 29, 2022 (the "Special Meeting").
  • The reverse split will not change the authorized number of shares of Common Stock or preferred stock.
  • Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) is a resort and entertainment company leveraging the power and popularity of professional football and its legendary players in partnership with the Pro Football Hall of Fame.

Rubicon Technology Announces Voluntary Delisting from Nasdaq

Retrieved on: 
Tuesday, December 13, 2022
RTI, ITAR, Annual report, Pink sheet, OTC Markets Group, News, Listing Rules, OTC Bulletin Board, Financial compensation, III, Rubicon, Rubicon Technology, Audit

As a result, the Company expects the delisting of its common stock to become effective on December 30, 2022.

Key Points: 
  • As a result, the Company expects the delisting of its common stock to become effective on December 30, 2022.
  • The Company’s Board of Directors has determined that the voluntary delisting of the Company’s common stock will be in the best interests of the Company and its stockholders.
  • Rubicon Technology Worldwide LLC, a wholly owned subsidiary of RTI, is an advanced materials provider specializing in monocrystalline sapphire products for optical systems and specialty electronic devices.
  • Rubicon has expertise manufacturing sapphire products with superior quality and precision.  Rubicon is ISO 9001 certified and ITAR registered.