The Venice firm's board approved a 1-for-1000 reverse stock split last week.
VENICE — SinoFresh HealthCare Inc. (symbol: SFSH) shareholders will soon have a lot fewer shares, but the same amount of stake in the company: the Venice firm's board of directors approved a 1-for-1,000 reverse stock split last week.
According to Google Finance, SinoFresh had 3.23 billion shares of outstanding stock in play prior to the board's decision, and a market capitalization of $3.55 million. Once the split is complete, the company will have 3.23 million shares in the market, which will increase the price of each individual share to about $1.
David Olund, president and CEO of SinoFresh HealthCare Inc., spoke with the Business Review in March about the revival of a company that had $4 million in sales in 2005; lost $4.9 million in 2006; and had $2.5 million in debt as recently as last year. See “Scent of Success” for the entire story.