Covol Technologies Inc. clarifies its previously announced 2 for 1 stock split.LEHI, Utah--(BUSINESS WIRE)--Jan. 22, 1996--Covol Technologies Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CVOL CVOL Control Volume ) Monday clarified that it will implement a 2 for 1 stock split in its common stock through an amendment to the company's Certificate of Incorporation certificate of incorporation n. some states issue a certificate to prove a corporation's existence upon the filing of Articles of Incorporation. In most states the Articles are sufficient proof. . The Certificate of Incorporation will be amended to provide that each share of common stock of the company will become two shares of common stock effective as of the close of business on Jan. 22, 1996. New certificates representing shares of common stock created pursuant to the stock split will be issued to stockholders by the transfer agent. The company's authorized capital authorized capital n (COMM) → capital m autorizado or social authorized capital n (Comm) → capital social will not change. Ken Young, Covol's chief executive officer, stated, "This move is expedient based on the rapid growth of the company and keeps the stock price in a range that is accessible to the average investor. In addition, we believe that this will also enhance the marketability for Covol stock for going on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on , which the company believes will be in the first quarter of 1996." Covol Technologies Inc. is a technology development company focused on recycling yesterday's waste into tomorrow's resources. CONTACT: Covol Technologies Inc., Lehi Alan Ayers, 801/768-4481; Fax: 801/768-4483 |
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