WOODLAND HILLS, Calif.,
Jan. 7, 2014 /PRNewswire/
-- PeopleString Corp. (OTCQB: PLPE) (the "Company"), a company
transitioning into a holding company functioning within the legal
cannabis concentrate industry is pleased to announce that it has
received FINRA approval for the previously announced 1-for-40
reverse stock split, name change and symbol change. The
Company's new name will be Vape Holdings, Inc. when the market
opens on January 8, 2014. For
twenty business days beginning on January 8,
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 VAPE.
"We are appreciative of FINRA's timely approval of our request
and very pleased to have secured such an appropriate trading symbol
for our company with the VAPE ticker. It will assuredly be a strong
part of our identity and brand," stated Kyle Tracey, CEO, Vape Holdings, Inc. "Perhaps
more importantly, today's events signify our new beginning with the
transition underway and a bold new business model rooted in the
legal cannabis concentrate movement."
Shareholders of record at the end of trading on January 7, 2014, will be affected by the 1-for-40
reverse stock split. When the market opens on January 8, 2014, every forty (40) shares of
issued and outstanding common stock of the Company will be
converted into one (1) share of common stock. All fractional shares
created by the reverse stock split will be rounded to the nearest
whole share. If the fraction created is one half or less, it
will be rounded down to the nearest whole share. If the
fraction is more than one half, it will be rounded up to the
nearest whole share. Each shareholder will get at least one
share.
The Company's transfer agent, Island Stock Transfer, will adjust
its records to reflect each shareholder's post-split
position. Share adjustments to certificates can be made upon
surrender to the transfer agent. Please contact Island Stock
Transfer for further information and costs. Island Stock
Transfer can be reached at (727) 289-0010 or
info@islandstocktransfer.com.
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.