Summary by Futu AI
SinglePoint Inc. has announced a 1-for-100 reverse stock split and a reduction in the number of authorized shares of Common Stock, effective August 15, 2024. The reverse stock split was filed with the Nevada Secretary of State on August 14, 2024, and does not require stockholder approval. It aims to proportionally reduce both the number of authorized and outstanding shares of Common Stock without adversely affecting any other stock class or issuing fractional shares. Post-split, every 100 shares of pre-split Common Stock will be reclassified as one share. The company has also made provisions to round up fractional shares to the nearest whole number and to ensure that shareholders with 10,000 or fewer shares will have at least 100 shares post-split. The Board of...Show More