Melbourne, Australia, June 03, 2021 (GLOBE NEWSWIRE) — 3D Pioneer Systems INC (OTC PINK: DPSM), a digital asset and cybersecurity company today announces 1-for-150 Reverse Stock Split (the “Reverse Split”). The Reverse Split is expected to become effective on June 3rd, 2021.
The Company’s common stock closed at $0.03 per share on June 2, 2021, or $4.50 on a split-adjusted basis. The Company’s common stock begins trading on a reverse split-adjusted basis on June 3, 2021. The reverse stock split is intended to, among other things, increase the per share trading price of the Company’s common stock. There is no assurance that the price per share of the Company’s common stock on the OTC Markets will actually increase.
Following the Reverse Split, the common stock will continue to trade on the OTC Markets under a new and temporary ticker symbol “DPSMD” for a period of 20 business days including the effective date per FINRA requirements. After the conclusion of the 20-business day period, the Company will resume trading under its previous ticker symbol “DPSM”. The Company has been assigned a new CUSIP No. 8855Y 208.
Other Reverse Split Details
The Company filed with the Nevada Secretary of State a Certificate of Change to implement the Reverse Split. The Certificate of Change had the effect of amending the Company’s Certificate of Incorporation. The Company’s Board of Directors had previously approved the Certificate of Change and the Reverse Split, and the Certificate of Change was effective upon approval of FINRA. The Reverse Split was effected without obtaining stockholder approval, as permitted by Section NRS 78.207 of the Nevada Revised Statutes. The Reverse Split is applicable to the Company’s issued, and outstanding shares on a pro rata basis at the 1-for-150 ratio, and will proportionally impact any outstanding warrants, options, or restricted stock units at that ratio. The Company’s authorized common stock was not affected or changed by the Reverse Split.
Each stockholder’s percentage ownership in the Company and proportional voting power remain virtually unchanged following the Reverse Split, except for minor changes and adjustments resulting from the rounding of fractional shares. The rights and privileges of the holders of shares of common stock are not materially affected by the Reverse Split.
As a result of the Reverse Split, every 150 shares of the Company’s issued and outstanding common stock have been automatically converted into one issued and outstanding share of common stock, par value $0.001 per share. Fractional shares resulting from the Reverse Split have been rounded up to the nearest whole share. For example, a stockholder with 15,100 shares pre-split would have a calculated 1-for-150 ratio to 100.66 post-split shares and then be rounded up to 101 post-split shares.
Stockholders who hold their shares of Common Stock in brokerage accounts or “street name” are not required to take any action to affect the exchange of their shares of Common Stock following the Reverse Split. Stockholders holding paper certificates may, but are not required to, exchange their stock certificates for new certificates giving effect to the Reverse Split. No new certificates will be issued to a stockholder until that stockholder has surrendered the stockholder’s outstanding certificate(s). For instructions on how a stockholder should surrender his, her or its certificates representing pre-split shares of common stock to the Transfer Agent, Globex Stock Transfer, in exchange for certificates representing post-split shares, please contact the Transfer Agent at (813) 344-4490.
About 3D Pioneer Systems Inc- DPSM
3D Pioneer Systems, Inc. – DPSM is digital asset and cybersecurity company originally incorporated in Nevada on April 2nd, 2008, under the name Mobile Gaming International Corp. On October 13th, 2014, the Company changed its name to 3D Pioneer Systems, Inc.
Following a change of control in 2020, the company has made significant progress and investments to become a fully reporting company as well as rebranding and changing its business focus. DPSM`s purpose is “to protect the digital assets of everyone.” DPSM is in the process of designing and launching several products and services towards becoming a one stop digital asset and cybersecurity global company.
Please visit www.dpsm.io for more information
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, are subject to Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbors created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements