ATLANTA - August 25, 2017 - (Newswire.com)
Entertainment Arts Research Inc. board executives and majority shareholders effect a one-for-twenty reverse stock split of its outstanding common stock. The 1 for 20 Reverse Split of “Entertainment Arts Research, Inc.” (EARI) was announced Aug. 22, 2017, on the OTC Daily List. This corporate action took effect at the open of business 8/23/2017. The new symbol will be EARID. The “D” will be removed in 20 business days and the symbol will revert back to EARI.
In the reverse stock split, every 20 shares of Entertainment Arts Research Inc. common stock outstanding will automatically be changed and reclassified into one new share of common stock. No fractional shares will be issued in connection with the reverse stock split. Any fractional share of common stock that would otherwise have resulted from the reverse stock split will be rounded up to the nearest whole share.
Entertainment Arts Research Inc. is a seasoned game design and development company whose technology crosses all marketing strategies with innovative interactive edutainment media. “The reverse split is a part of our strategic plan to take advantage of the many global opportunities afforded our company,” says Joseph N. Saulter, CEO.
Entertainment Arts Research Inc. Safe Harbor Statement:
Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this update, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology and our need to increase the size of our organization. Further information on the Company's risk factors is contained in the Company's quarterly and annual reports as filed with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Press Contact:
Bill Davis
Entertainment Arts Research Inc. Group
404-465-3320
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Original Source: Entertainment Arts Research Inc. Announces 1 for 20 Reverse Stock Split
