WOODLAND HILLS, Calif.,
Dec. 31, 2013 /PRNewswire/ --
PeopleString Corp. (OTCQB: PLPE) (the "Company"), a company
transitioning into a holding company functioning within the legal
cannabis concentrate industry, announced today that in accordance
with its prior announcement of its intent to seek a 1-for-40
reverse stock split of its common stock, the Company has filed for
FINRA approval and anticipates the reverse stock split will be
effective at the opening of trading on January 6, 2014. The Board and a majority
of the Company's shareholders approved the reverse stock split at a
ratio of 1-for-40, along with a name change to Vape Holdings, Inc.
and a corresponding ticker symbol change earlier this month
pursuant to written consents effective on December 24, 2013. Following the reverse stock
split, the company expects to have approximately 6.5 million shares
of common stock outstanding.
As a result of the reverse stock split, every forty shares of
the Company's common stock that were issued and outstanding
immediately prior to the opening of trading on January 6, 2014, will automatically be combined
into one issued and outstanding share without any change in the par
value of such shares.
The Company's new name will be Vape Holdings, Inc. when the
market opens on January 6,
2014. For twenty business days beginning on January 6, 2014, the Company's ticker symbol will
be PLPED. After that twenty day period, the D, which
signifies that the reverse stock split occurred, will be removed
and the Company's new ticker symbol will be effective. The
reverse stock split, name change and symbol change are all pending
FINRA approval.
For more information on PeopleString/VAPE Holdings, please
visit: www.VapeHoldings.com
From time to time, PeopleString/Vape Holdings will provide
market updates and news via its website
http://www.vapeholdings.com/ or the Company's Facebook page at
http://on.fb.me/1d5c7iO
Cautionary Language Concerning Forward-Looking
Statements
This release contains "forward-looking statements" that include
information relating to future events and future financial and
operating performance. The words "may," "would," "will,"
"expect," "estimate," "can," "believe," "potential" and similar
expressions and variations thereof are intended to identify
forward-looking statements. Forward-looking statements should not
be read as a guarantee of future performance or results, and will
not necessarily be accurate indications of the times at, or by,
which that performance or those results will be achieved.
Forward-looking statements are based on information available
at the time they are made and/or management's good faith belief as
of that time with respect to future events, and are subject to
risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in or suggested
by the forward-looking statements. Important factors that could
cause these differences include, but are not limited to:
fluctuations in demand for PeopleString's products, the
introduction of new products, the Company's ability to maintain
customer and strategic business relationships, the impact of
competitive products and pricing, growth in targeted markets, the
adequacy of the Company's liquidity and financial strength to
support its growth, and other information that may be detailed from
time-to-time in PeopleString's filings with the United States
Securities and Exchange Commission. Examples of such
forward-looking statements in this release include statements
regarding future sales, costs and market acceptance of products as
well as regulatory actions at the State or Federal level. For
a more detailed description of the risk factors and uncertainties
affecting PeopleString please refer to the Company's Securities and
Exchange Commission filings, which are available at www.sec.gov.
PeopleString undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
SOURCE PeopleString Corp.