THE WOODLANDS, TEXAS, May 01, 2018 (GLOBE NEWSWIRE) -- Optium Cyber Systems, Inc. (the Company) (OTC:OCSY) announces that FINRA has approved a corporate action to reduce the authorized common stock from 7,000,000,000 to 500,000,000 and to effect a reverse split of the issued common stock on a 1 for 500 basis. The par value of the common stock will remain at $0.001. The reverse split of the common stock will take effect on the opening of trading May 3, 2018.
Management would like to clarify for shareholders the reasoning for the restructuring:
-- Increase share price: the consolidation will increase the trading price per share to above $0.01. The sub-penny markets are getting harder and harder to trade and impossible to fund.
-- Funding: with a sub penny share price the Company was unable to fund because of dilution issues. Post rollback the share price will be above $0.01 allowing traditional funding and the possibility of a Reg A+.
-- Reduce the float: After the consolidation, the public float will be approximately 6,000,000 shares.
-- Price appreciation: with a tighter stock structure and a reduced float, the price per share will have a better chance to appreciate as the Company progresses. The potential return on investment will be greater over the long term under the new structure.
-- Larger potential audience: with a share price above $0.01, the Company will have access to investors who do not trade sub penny stocks such as institutional investors and Europeans.
-- Credibility: the Company was losing opportunities because of the stigma attached to sub penny stocks.
The reverse split will not:
-- affect shareholders’ percentage ownership interest in the Company;
-- affect shareholders’ proportionate voting power;
-- alter the rights of common stockholders.
Shareholders may at their discretion return any share certificates they are holding to the transfer agent to be changed to reflect the above corporate actions. Shareholders holding stock in a brokerage account will not have to take any action.
Management ask that shareholders be patient and allow the Company to develop its business model and is confident that over the long term, shareholders will be rewarded for their patience.
About Optium Cyber Systems, Inc.
OCSI has developed a proprietary process to analyze, identify and address cyber security vulnerabilities in an organization’s critical IT infrastructure which is scalable to any size organization in any industry. OCSI has recently launched in the health care sector, focusing on protecting health care facilities including hospitals, nursing homes and doctor’s offices from cyberthreats such as the manipulation of medical devices or theft of patient records. OCSI is a publicly traded company having its common shares quoted on the OTC Markets under the symbol "OCSY".
Contact
Investor Relations
Ten Associates LLC
11529 N. 120th St.
Scottsdale, Arizona
85259 USA
Telephone: 480-326-8577
Contact: Thomas E. Nelson
Email: tenassociates33@gmail.com
Optium Cyber Systems, Inc.
8350 Ashlane Way, Suite 104
The Woodlands, Texas
77382 USA
Telephone: 936-559-7407
Web: www.optiumcyber.com
Email: info@optiumcyber.com
Twitter: https://twitter.com/OCSI4INVESTOR
Facebook: https://www.facebook.com/OCSI4INVESTOR
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Optium Cyber Systems, Inc.'s filings with OTC Markets which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.