Fastbase, Inc., was approved to change its public listing name to "Universal New Energy Holding Group, Inc." and its ticker symbol to "UNEH," announced today that the Financial Industry Regulatory Authority has granted this name change, effective October 30, 2024. The shift reflects the companys planned direction toward new energy solutions and aligns its branding with the strategic goals it intends to pursue in the battery and green energy sectors.
Reverse Stock Split
In conjunction with the name and ticker symbol change, the company also announced a 1-for-15 reverse stock split of its common stock, effective October 30, 2024. The reverse split is intended to support a more stable and favorable capital structure as the company explores future business opportunities in energy storage and battery technologies. Upon the splits completion, each 15 shares of issued and outstanding common stock will be combined into one issued and outstanding share, with no impact on the total par value per share. Any resulting fractional shares will be rounded up to the nearest whole share.
Shareholders are advised that the reverse split aims to support improved trading conditions, with anticipated adjustments to the trading price of common stock under the new ticker symbol UNEH. Shareholders are encouraged to consult financial advisors for personalized guidance.
About Universal New Energy Holding Group, Inc.
Universal New Energy Holding Group, Inc. (OTC: UNEH) intends to engage in the research, development, production, and technical services related to battery technologies, recycling, and energy storage solutions. Currently in the early stages, the company plans to develop capabilities that will focus on battery materials, cells, and systems. Future objectives include establishing a sustainable, vertically integrated battery ecosystem. The companys prospective operations may cover the customization of battery cell and system solutions to meet anticipated demands from potential clients in the energy and electric vehicle sectors.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as believes, plans, anticipates, projects, estimates, expects, intends, strategy, future, opportunity, may, will, should, could, potential, or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Companys business and financial results are included in the Companys filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Companys Forms 10-K, 10-Q, and 8-K.
Reverse Stock Split
In conjunction with the name and ticker symbol change, the company also announced a 1-for-15 reverse stock split of its common stock, effective October 30, 2024. The reverse split is intended to support a more stable and favorable capital structure as the company explores future business opportunities in energy storage and battery technologies. Upon the splits completion, each 15 shares of issued and outstanding common stock will be combined into one issued and outstanding share, with no impact on the total par value per share. Any resulting fractional shares will be rounded up to the nearest whole share.
Shareholders are advised that the reverse split aims to support improved trading conditions, with anticipated adjustments to the trading price of common stock under the new ticker symbol UNEH. Shareholders are encouraged to consult financial advisors for personalized guidance.
About Universal New Energy Holding Group, Inc.
Universal New Energy Holding Group, Inc. (OTC: UNEH) intends to engage in the research, development, production, and technical services related to battery technologies, recycling, and energy storage solutions. Currently in the early stages, the company plans to develop capabilities that will focus on battery materials, cells, and systems. Future objectives include establishing a sustainable, vertically integrated battery ecosystem. The companys prospective operations may cover the customization of battery cell and system solutions to meet anticipated demands from potential clients in the energy and electric vehicle sectors.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as believes, plans, anticipates, projects, estimates, expects, intends, strategy, future, opportunity, may, will, should, could, potential, or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Companys business and financial results are included in the Companys filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Companys Forms 10-K, 10-Q, and 8-K.
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