One World Holdings, Inc. Announces 1-for-750 Reverse Split of Common Shares
December 19 2013 - 03:59PM
One World Holdings, Inc. (OTCQB:OWOO) today announced that a
1-for-750 reverse stock split of its common shares has been
approved by the Company's Board of Directors and by written consent
of stockholders holding a majority of the Company's outstanding
shares of stock, effective upon the commencement of trading on
December 30, 2013, subject to the approval by the Financial
Industry Regulatory Authority ("FINRA").
The reverse split will consolidate every 750 common shares into
one common share, par value of $0.0025 per share. As a result of
the reverse stock split, the number of shares of common stock
outstanding will be reduced from approximately 804,248,645 to
approximately 1,072,331 shares, subject to rounding up of all
fractional shares to the nearest whole share. With respect to the
underlying shares of common stock associated with any derivative
securities, such as warrants, options and convertible notes, the
conversion and exercise prices and number of common shares issuable
generally will be adjusted in accordance to the 1:750 ratio. The
number of authorized shares of common stock will be reduced from
1,500,000,000 to 50,000,000.
It is anticipated that the reverse stock split will establish a
higher market price for the Company's common shares and reduce per
share transaction fees, as well as certain administrative
costs.
The Company's transfer agent, Colonial Stock Transfer
("Colonial"), will also act as exchange agent for the reverse stock
split. After the reverse split takes effect, upon inquiry,
shareholders will receive information from Colonial regarding the
process for exchanging their common shares.
Subject to FINRA approval, the Company's shares of common stock
will begin trading on a split-adjusted basis when the market opens
on December 31, 2013.
About The One World Doll Project
Established in 2010 by Trent T. Daniel and Stacey McBride-Irby,
The One World Doll Project endeavors to make significant positive
cultural impact through the doll category. Its beautiful dolls are
unique works of art, created for a growing market yearning for
something unique to experience – a doll that both embraces
contemporary girls of color and symbolizes the women they can
become. The One World Doll Project has created The Prettie Girls!™
dolls, an exciting line of multi-cultural fashion dolls, years in
development, recently launched in the marketplace. The Prettie
Girls! are unique in their look, their backgrounds and their
stories, capturing the essence of values and positive attributes
that every little girl can embrace. Styled for play, yet
filled with soul, The Prettie Girls! set new, higher, values-based
standards for "pretty"- positive goals that reach across the globe
and up for the stars!
For young girls, The One World Doll Project creates a doll that
is a friend, a partner in play, and a glimpse of their biggest,
brightest dreams. For young women, it is a symbol of who they are,
how much they have achieved, and a keepsake of the best times of
their lives. For connoisseurs, The One World Doll Project promises
stylish works of art that will become a vital part of a valuable
growing collectors' market. In addition to the Prettie Girls!
play line, the Company has just premiered the Cynthia Bailey
Prettie Girls Collector Doll™ depicting the businesswoman, model
and reality star, featured on Bravo Network's Real Housewives of
Atlanta.™
More information about One World Holdings, Inc., Stacey
McBride-Irby, Trent T. Daniel and The One World Doll Project can be
found at www.oneworlddolls.com.
Mattel®, Barbie®, So in Style® and the Mattel, Barbie and So In
Style logos are trademarks of Mattel Inc., registered in the U.S.
and other countries. All other trademarks are the property of
their respective owners.
Notice Regarding Forward-Looking Statements
This release contains certain forward-looking statements
relating to the business of One World Holdings, Inc. that can be
identified by the use of forward-looking terminology such as
"believes," "expects," "anticipates," "may" or similar expressions.
Such forward-looking statements involve known and unknown risks and
uncertainties, including uncertainties relating to product/services
development, long and uncertain sales cycles, the ability to obtain
or maintain patent or other proprietary intellectual property
protection, market acceptance, future capital requirements,
competition from other providers, the ability of our vendors to
continue supplying the company with equipment, parts, supplies and
services at comparable terms and prices and other factors that may
cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected.
Certain of these risks and uncertainties are or will be described
in greater detail in our Form 10-K and Form 10-Q filings with the
Securities and Exchange Commission, which are available at
http://www.sec.gov. One World Holdings, Inc. is under no obligation
(and expressly disclaims any such obligation) to update or alter
its forward-looking statements whether as a result of new
information, future events or otherwise.
CONTACT: Sarah Daniel
The One World Doll Project, Inc.
832-230-1610
sdaniel@oneworlddolls.com