Navigation Links
NOVT Corporation Completes Reverse/Forward Stock Split

LOS GATOS, Calif., July 22, 2010 /PRNewswire-FirstCall/ -- NOVT Corporation (Pink Sheets: NVTPD) today announced that it has filed amendments to its Certificate of Incorporation effective as of July 9, 2010 that effected the previously announced 1-for-5,000 reverse stock split, pursuant to which shareholders owning fewer than 5,000 shares of NOVT's common stock have had their shares cancelled and converted into the right to receive $3.00 for each share of common stock held immediately prior to the reverse stock split. The amendments also effected a 50-for-1 forward stock split of the common stock immediately following the reverse stock split. As a result of the reverse stock split and forward stock split, there are currently 32,122 outstanding shares of common stock of NOVT. Finally, the amendments decreased the number of authorized shares of NOVT's common stock from 6,250,000 to 90,000 and decreased the number of authorized shares of NOVT's preferred stock from 1,250,000 to 10,000.

About NOVT Corporation

On March 9, 2006, NOVT completed the sale of substantially all the assets of its vascular brachytherapy business.  NOVT's strategic plan is to redeploy its existing resources to identify and acquire new business operations.  At this time, no candidates have been identified.  

NOVT's Certificate of Incorporation limits the ability of any person or group to acquire 4.75% or more of NOVT's common stock (subject to certain exceptions as provided in the Certificate of Incorporation) in order to protect NOVT's ability to utilize its net operating loss carryforwards and renders inapplicable to NOVT the limitations of Section 203 of the Delaware General Corporation Law.

SOURCE NOVT Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Genaera Corporation Presents Interim Phase 1 Data for Obesity Compound Trodusquemine (MSI-1436) at IBC Conference
2. CEL-SCI Corporation Releases Letter to Shareholders
3. Alfacell Corporation to Present at UBS Global Life Sciences Conference
4. Baxa Corporation Extends Global Reach With New Distribution Agreements in Colombia and the Dominican Republic
5. Genaera Corporation Presents Preclinical Trodusquemine (MSI-1436) Data at the North American Association for the Study of Obesity Annual Meeting
6. Genaera Corporation Presents Phase 1 Data for Trodusquemine (MSI-1436) at the North American Association for the Study of Obesity Annual Meeting
7. The Quigley Corporation Reports Third Quarter Results, Increases Investment in Pharmaceutical R&D for Diabetic Neuropathy
8. Genaera Corporation Provides Highlights of Positive Phase 1 Trodusquemine (MSI-1436) Data from the North American Association for the Study of Obesity Annual Meeting
9. Crystal Research Associates, LLC Issues Executive Informational Overview(R) (EIO(R)) on CEL-SCI Corporation
10. Immunosyn Corporation Releases SF-1019 Study Results
11. AmpliMed Corporation Announces Promising 1-year Survival Data from Phase I/II Study of Amplimexon(R) in Metastatic Malignant Melanoma
Post Your Comments:
(Date:11/26/2015)... 26, 2015 ... of the  "2016 Future Horizons and ... Surface Testing Market: Supplier Shares, Competitive ... offering.  --> ) ... "2016 Future Horizons and Growth Strategies ...
(Date:11/26/2015)... 26, 2015 ... adds "Global Repaglinide Industry 2015 ... on China Repaglinide Market, 2010-2019" reports ... and information to its online business ... . --> ...
(Date:11/25/2015)... 25, 2015 ... the "Global Brain Monitoring Devices Market ... --> ) has announced the ... Devices Market 2015-2019" report to their ... ( ) has announced the addition ...
Breaking Medicine Technology:
(Date:11/25/2015)... ... November 25, 2015 , ... ... Water For Empowerment ™ attracts volunteers together who want to combine talents ... women as key stakeholders in the process. The non-profit launched its first major ...
(Date:11/25/2015)... ... November 25, 2015 , ... Finnleo, a leader in the traditional ... models of traditional and far-infrared saunas. , For traditional saunas, Finnleo is ... traditional Finnish sauna wood, and Finnleo uses only European Grade A Nordic White Spruce ...
(Date:11/25/2015)... (PRWEB) , ... November 25, 2015 , ... ... offering factory direct sauna parts and accessories. , Sauna accessories help improve ... the bather’s style and personality. From basic styles for the purist looking for ...
(Date:11/25/2015)... , ... November 26, 2015 , ... ... Commission (AUC), European Union (EU), ANDI Pan African Centres of Excellence, and public ... in Nairobi (UNON) for the opening of the 5th African Network for Drugs ...
(Date:11/25/2015)... ... ... For the first time, Vitalalert is donating half of its earnings to ... between the two groups began in 2014 with Vitalalert pledging a portion of every ... founded in 1954 and is an international Christian-based health organization whose mission is to ...
Breaking Medicine News(10 mins):