ICOP Effects Reverse Stock Split
22 Junio 2010 - 5:00AM
Marketwired
ICOP Digital, Inc. (NASDAQ: ICOP), an industry-leading company
engaged in advancing mobile video solutions, today announced that
it filed articles of amendment to implement a one-for-ten reverse
stock split of the Company's common stock. The reverse stock split,
which was previously approved by the Company's Board of Directors
(the "Board") and shareholders, took effect at 12:01 a.m. MT on
June 22, 2010. Trading of the Company's common stock on the NASDAQ
Capital Market will continue, on a reverse stock split-adjusted
basis, when trading begins on June 22, 2010.
On June 3, 2010, the Company's shareholders approved a proposal
to authorize the Company's Board to implement, at its discretion, a
reverse stock split of the Company's outstanding shares of common
stock within a range of one-for-two to one-for-ten and to file an
Amendment to the Company's Articles of Incorporation (the "Articles
of Amendment") to effect such a reverse stock split. The Board has
authorized a one-for-ten reverse stock split of the Company's
common stock, and on June 21, 2010, the Company filed the Articles
of Amendment.
As a result of the reverse stock split, every ten shares of the
Company's issued and outstanding common stock was combined into one
share of common stock, and the number of shares of the Company's
common stock outstanding was reduced from approximately 27.2
million shares to approximately 2.72 million shares. The reverse
stock split did not change the number of authorized shares of the
Company's common stock. To reflect the reverse stock split, NASDAQ
will append the fifth character "D" to the Company's ticker symbol
for 20 business days. During that time, the Company's common stock
will continue to be listed on NASDAQ and trade under "ICOPD." The
CUSIP number for the company's post-split common stock will be
44930M 500.
No fractional shares of common stock will be issued as a result
of the reverse stock split. Instead, each fractional share that
would otherwise result from the reverse stock split will be rounded
up to one whole share of post-split common stock. Computershare,
the Company's transfer agent, will act as exchange agent for
purposes of implementing the exchange of stock certificates. After
the reverse stock split, transmittal forms will be provided to
registered holders providing instructions for the exchange of stock
certificates.
The primary objective of the reverse stock split is to maintain
the Company's listing on the NASDAQ Capital Market by regaining
compliance with NASDAQ's minimum share price listing requirement.
Additional information about the reverse stock split is available
in the Company's definitive proxy statement filed with the
Securities and Exchange Commission on April 22, 2010.
About ICOP Digital, Inc. ICOP Digital,
Inc. (NASDAQ: ICOP) is a leading provider of in-car video and
mobile video solutions for Law Enforcement, Fire, EMS, Military,
and Transportation markets, worldwide. ICOP solutions help the
public and private sectors mitigate risks, reduce losses, and
improve security through the live streaming, capture and secure
management of high quality video and audio. www.ICOP.com
Forward-Looking Statements This document
contains forward-looking statements. You should not rely too
heavily on forward-looking statements because they are subject to
uncertainties and factors relating to our operations and business
environment, all of which are difficult to predict and many of
which are beyond our control. The Company may experience
significant fluctuations in future operating results due to a
number of economic, competitive, and other factors, including,
among other things, our reliance on third-party manufacturers and
suppliers, government agency budgetary and political constraints,
new or increased competition, changes in market demand, and the
performance or reliability of our products. This, plus other
uncertainties and factors described in our most-recent annual
report and our most-recent prospectus filed with the Securities and
Exchange Commission, could materially affect the Company and our
operations. These documents are available electronically without
charge at www.sec.gov.
For more information, contact: Melissa K. Owen Dir. of
Communications 16801 West 116th Street Lenexa, KS 66219 USA Phone:
(913) 338-5550 Fax: (913) 312-0264 Email Contact www.ICOP.com
For Investor Relations: DC Consulting, LLC Daniel Conway
Chief Executive Officer Phone: (407) 792-3332 Email Contact Email
Contact
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