18:42:06 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Cloud Security Corporation Announces 1:100 Reverse Stock Split

2015-01-21 08:01 ET - News Release


NEWPORT BEACH, CA / ACCESSWIRE / January 21, 2015 / Cloud Security Corporation (CLDS) (the "Company"), an emerging technology company focused on the next generation of Internet and mobile security, today announced that it has received FINRA approval for the previously announced 1-for-100 reverse stock split. The reverse stock split will be effective when the market opens on January 22, 2015. As of that date, the Company's common stock will temporarily trade under the symbol CLDSD for twenty (20) business days, at which time the symbol will revert back to CLDS. The temporary "D" at the end of the Company's stock symbol signifies that the reverse stock split occurred.


Shareholders of record at the end of trading on January 21, 2015, will be affected by the 1-for-100 reverse stock split. When the market opens on January 22, 2015, every one hundred (100) 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, VStock Transfer, will adjust its records to reflect each shareholder's post-split position. Share adjustments to physical stock certificates can be made upon surrender of the certificate to the transfer agent. Please contact VStock Transfer for further information. VStock Transfer can be reached at (212) 828-8436 or info@vstocktransfer.com.


About Cloud Security Corporation



Cloud Security Corporation is an innovative cloud computing company whose technology and products allow for secure data connections to the cloud, through networks, traditional computers and mobile devices such as smartphones and tablets. The Company's flagship product - MyComputerKey(TM) - provides the ability for remote access security to any computer around the world. The Company also develops online application security products and mobile security technology in the Bring-Your-Own-Device (BYOD) market, a growing trend in today's mobile workforce. For more information about the Company, please visit www.cloudsecuritycorporation.com.


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 the Company'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 the Company'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 the Company please refer to the Company's Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


Contact Info:


Safa Movassaghi

Safamovassaghi@gmail.com

(866) 360-3544





SOURCE: Cloud Security Corporation

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