StarStream Entertainment Announces 1-for-3 Reverse Stock Split
03 May 2014 - 6:15AM
StarStream Entertainment, Inc. (OTCQB:SSET) ("StarStream" or the
"Company"), announces a reverse split of its outstanding common
stock at a ratio of 1-for-3. The reverse stock split will be
effective with FINRA (the Financial Industry Regulatory Authority)
and in the marketplace at the open of business May 7, 2014,
whereupon the stock will begin trading on a split-adjusted basis.
The Company's trading symbol on May 7, 2014 will temporarily change
to "SSETD" and continue for a period of 20 business days from that
date, after such time, the symbol will revert to the original
symbol of "SSET".
As a result of the reverse stock split, the Company's issued and
outstanding shares of common stock will decrease to approximately
17.9 million post-split shares from approximately 53.7 million
pre-split shares.
As a result of the reverse stock split, each three shares of
common stock held by each stockholder will be converted
automatically into one share of common stock, with fractional
shares rounded up to the next whole share. No fractional shares
will be issued, and no cash or other consideration will be
paid.
Stockholders who are holding their shares in electronic form at
their brokerage firms do not have to take any action as the effects
of the reverse stock split will automatically be reflected in their
brokerage accounts. No further action is required for stockholders
holding paper certificates. Certificates representing
pre-split holdings will be deemed to represent the stockholder's
post-split holdings until such time as the stockholder presents the
certificate to the Company's transfer agent, whose contact
information appears below.
Island Stock Transfer 15500 Roosevelt Boulevard Suite 301
Clearwater, FL 33760 727-289-0010
About StarStream Entertainment:
StarStream Entertainment is a theatrical motion picture
production and financing company focused on producing and financing
edgy, high quality motion pictures with strong cast and lean
budgets for a commercial
audience. http://www.starstreamentertainment.com/
Certain statements contained herein may be forward-looking and
involve risks and uncertainties. Such forward-looking statements
involve assumptions, known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of those forward looking statements to be materially
different from any future results, performance, or achievements
expressed or implied by the forward-looking statements. Such
potential risks and uncertainties include, without limitation, the
substantial investment required to produce and market films,
increased cost to produce and market motion pictures, our ability
to raise capital, unpredictability of the commercial success of our
motion pictures, the effects of disposition of businesses or
assets, technological changes and other trends affecting the
entertainment industry, and the risk factors as set forth in
StarStream's Annual Report on Form 10-K filed with the Securities
and Exchange Commission on April 11, 2014.
CONTACT: Investor Relations
RedChip Companies, Inc.
Mike Bowdoin, Vice President
800-733-2447, ext. 110
mike@redchip.com
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