VoIP Inc announces reverse stock split
VoIP, Inc. (OTCBB: VOIC), a leading provider of turnkey Voice over Internet Protocol communications solutions, announced that the reverse stock split of the Company’s outstanding common stock, at a ratio of 1-for-20 shares, is effective today, August 16, 2007. In addition, the Company’s stock symbol has changed to VOIC and will continue to trade on the OTC Bulletin Board. Under the terms of the split, for every twenty shares of issued and outstanding common stock, a shareholder will receive one share of common stock. No fractional shares will be issued in connection with the reverse stock split; for any fractional ownership, the Company will issue one whole share for any fractional interest.
"As the Company continues to establish itself as the most innovative player in the industry, our reverse stock split lays the foundation whereby a broader base of shareholders can benefit from our technology platform, comprehensive service offerings, and vision to be a leading provider of internet-enabled communications,” said Anthony J. Cataldo, Chairman and CEO of VoIP, Inc. “Traffic over our network continues to increase, with August revenue on track to exceed that of July.”
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