BOYNTON BEACH, FL / ACCESSWIRE / February 22, 2019 / Mister Goody, Inc. (OTC Pink: MSGO) is pleased to announce that it filed Amended and Restated Articles of Amendment ("Restated Articles") with the Secretary of State of the State of Florida.
The Restated Articles, among other things, (i) effectuates a one-for-fifty (1:50) reverse split of the company's common stock; (ii) fixes the number of authorized shares of common stock after the reverse split at 200,000,000 shares of common stock, $0.001 par value; (iii) retains the number of authorized shares of blank check preferred stock at 5,000,000 shares, with 2,454 shares designated as Series A Preferred Stock; and (iv) amends the conversion features of the Series A Preferred Stock to provide, among other things, a 1:2,000 conversion right of Series A Preferred Stock to common stock at any time.
As a result of the reverse stock split, every fifty (50) shares of the company's pre-reverse split common stock will be combined and reclassified into one (1) share of common stock. Beginning with the opening of trading on February 25, 2019, the company's common stock will trade on the OTC markets on a reverse stock split adjusted basis with the new CUSIP number of 60646A 200 and it will trade on the OTC Markets with a "D" added to the symbol (MSGOD), for 20 trading days beginning February 25, 2019 to designate that it is trading on a post-reverse split basis, and will resume trading under the symbol "MSGO" after the 20-trading day period has expired.
No fractional shares will be issued in connection with the reverse stock split. In accordance with the Restated Articles, the company's shareholders who would have otherwise been due a fractional share will receive a full share. Shareholders holding their shares of common stock through a broker do not need to take any action in connection with the reverse stock split. For those shareholders holding physical stock certificates, the company's transfer agent, Issuer Direct, will send instructions for exchanging those certificates for new certificates representing the post-split number of shares.
Immediately upon effectiveness of the reverse stock split, the holders of Series A Preferred shares converted their Series A Preferred shares into shares of common stock. Following these transactions, the company has outstanding capital stock of 6,124,467 common shares.
The Board of Directors believes these actions were important steps towards making our common stock more attractive to prospective investors, attracting more qualified financing partners and enabling the company to pursue corporate opportunities.
About Mister Goody, Inc.
Mister Goody provides management consulting services to its partially owned subsidiary The Naked Edge, LLC. Naked Edge manufactures an organic fruit and vegetable snack currently sold online and in retail locations in the United States and Canada.
Safe Harbor Statement
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continues," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in methods of marketing, delays in manufacturing or distribution, changes in customer order patterns, changes in customer offering mix, and various other factors beyond the company's control.
CONTACT
Mister Goody, Inc.
561.409.5782
info@mistergoodyinc.com
SOURCE: Mister Goody, Inc.
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