Sector 10, Inc. reported today that the company has filed a Form 8K to disclose the final approvals from NASDAQ and the State of Delaware regarding the recent corporate action involving a reverse split. NASDAQ informed the company that the reverse split and symbol change took effect at the opening of business on May 19, 2009. The new trading symbol is SECI.
Sector 10, Inc. approved the reverse stock split restructuring in order to pursue an acquisition and growth strategy designed to increase shareholder value and establish the company as the premier provider in the emergency response market. The reverse stock split is expected to provide the company with more flexibility in future acquisition negotiations. As previously announced, the company has entered into a Letter of Intent with an acquisition candidate and is currently reviewing additional acquisitions.
Sector 10, Inc. CEO Pericles DeAvila stated that the reverse stock split was part of the ongoing strategy to better position the company for growth. He also commented on the fact that several new team members would be announced by press releases in the coming weeks.
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