Biocoral Announces One-For-Fifty Reverse Stock Split.Business Editors NEW YORK--(BUSINESS WIRE)--March 16, 2001 Biocoral, Inc. (OTC-BICR) announced that the Board of Directors has approved a one-for-fifty reverse split of Biocoral, Inc. common stock. The reverse split will be effective 20 days after the mailing of an information statement to shareholders of record on March 13, 2001 and it is anticipated the share will begin trading on a post-split basis effective on April 13. No fractional shares Fractional share Stocks amounting to less than one full share, usually resulting from splits, acquisitions, exchanges, or dividend reinvestment programs. fractional share Less than one share of stock, that is, one-third or one-half a share. of common stock will be issued in connection with the reverse split. In any instance where the reverse split would result in a shareholder becoming the holder of a fractional fractional size expressed as a relative part of a unit. fractional catabolic rate the percentage of an available pool of body component, e.g. protein, iron, which is replaced, transferred or lost per unit of time. interest in a share of common stock, the number of shares held by such shareholders will be rounded up to the nearest whole share. It is anticipated that a "D" will be appended to the symbol for during the interim so the trading community is aware of the reverse split. Nasser Nassiri, the Chairman and Chief Executive Officer of Biocoral, Inc. commented, "This action will better ensure the Company's ability to meet various listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. both domestically and internationally and provide a stock price level more available to institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. . The Company is also hopeful that a decrease in the number of shares of common stock outstanding, as a consequence of the reverse stock split will stimulate investor interest in the Company's common stock. The reverse split will also assist the Company in its ability to pursue future strategic plans of expansion that are designed to maximize shareholder value." Biocoral, Inc., a Delaware corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. , (the "Company") is an international biomaterials company specializing in research and development in the areas of health care patented high technology and biomaterials. Via its subsidiaries, the Company researches, develops, manufactures and commercializes bone graft bone graft Orthopedic surgery Sterilized bony tissue, often of cadaveric origin, used to fill and/or 'sculpt' bone defects Indications Spinal fusion, revision of failed articular prostheses, filling traumatic or malignant bone defects, or periodontal defects. substitutes and other high tech patented biomaterials in a number of countries outside the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The information contained in this press release, including any "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 contained herein, should be reviewed in conjunction with the Company's Annual Report on Form 10-KSB and other publicly available information regarding the Company, copies of which are available from the Company upon request. Such publicly available information sets forth many risks and uncertainties related to the Company's business and such statements, including risks and uncertainties related to that are unpredictable and outside of the influence and/or control of the Company. |
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