Arvana Inc. to Reverse Split Stock
12 Outubro 2010 - 4:58PM
Marketwired
Arvana Inc. (OTCBB: AVNI), a business development company currently
evaluating business opportunities, announced today that it is in
the process of reverse splitting its common stock. The company will
issue one share of common stock for each twenty shares outstanding
and will reduce the number of authorized shares. Post split there
will be 5,000,000 shares, $.001 par value, common stock authorized
and 1,060,119 shares, $.001 par value common stock issued. Instead
of issuing fractional shares, the number of shares issued will be
rounded to the nearest whole share.
The Company was notified by FINRA that effective October 13,
2010, a "D" will be placed on the ticker symbol ("AVNID") for 20
business days. After 20 business days, the symbol will revert back
to the original symbol ("AVNI").
The new CUSIP number for the common stock will be 043279 20
7.
Mr. Zahir Dhanani, the Company's CEO, stated, "We feel that we
can attract better investors and potential investment opportunities
with the new capital structure. We are aggressively looking for
companies that we believe have significant potential to create
shareholder value."
About Arvana Inc.: Until the end of 2007 Arvana Inc. business
operations were focused on the telecommunication industry. In
December 2007 the Company exited the telecommunication industry and
is currently evaluating other industries and business opportunities
in order to focus on the future.
Forward-Looking Statements: Certain statements in this press
release are forward-looking statements. We use words such as
"anticipate," "believe," "could," "should," "estimate," "expect,"
"intend," "may," "predict," "project," "target," and similar terms
and phrases, including references to assumptions, to identify
forward-looking statements. The forward-looking statements in this
press release are based on information available to us as of the
date any such statements are made and we assume no obligation to
update these forward-looking statements. These statements are
subject to risks and uncertainties that could cause actual results
to differ materially from those described in the statements. These
risks and uncertainties include, but are not limited to, the
following: factors that could affect our ability to achieve and
manage our planned expansion, such as the availability of a
sufficient number of suitable new restaurant sites and the
availability of qualified franchisees and employees; risks relating
to our expansion into new markets; the risk of food-borne illnesses
and other health concerns about our food products; changes in the
availability and costs of food; changes in consumer preferences,
general economic conditions or consumer discretionary spending; the
impact of federal, state or local government regulations relating
to our franchisees and employees, and the sale of food or alcoholic
beverages; the impact of litigation; our ability to protect our
name and logo and other proprietary information; the potential
effects of inclement weather; the effect of competition in the
restaurant industry; and other risk factors described from time to
time in our SEC reports.
Company Contact: Zahir Dhanani Suite 145, 925 West Georgia
Street Vancouver, B.C. V6C 3L2 604-568-4424
Arvana (PK) (USOTC:AVNI)
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