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

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 Directors will determine the eligibility for this special treatment. The reverse stock split will be reflected in the stock market with the Common Stock trading on a post-split basis from the opening of business on August 15, 2024. Additionally, all options, warrants, and convertible securities will be adjusted accordingly. The Company's transfer agent, VStock Transfer, LLC, will provide stockholders with instructions on exchanging stock certificates. Concurrently, SinglePoint filed a second amendment to establish the number of authorized shares of Common Stock at 6 billion. These amendments do not affect the Company's authorized preferred stock or the voting control of the majority holders of the Company's Class A Convertible Preferred Stock.