If you are interested in companies involved in diverse sectors, then it could be a good time to consider taking a look into Metavesco Inc. (OTC: MVCO), which came into focus this past Friday. This morning it could be in focus after the company announced on December 20 that the management opted for a forward stock split.
Stock Split
Metavesco announced that a 100-for-1 forward stock split of its common stock had been implemented. At the time, the company announced that the transformational move was a demonstration of Metavesco’s commitment to the creation of value for the shareholders over the long term. The shareholders in the company as on the close of the business day on October 30, 2024, would get their shares reclassified, and each common share would be converted to 100 shares of the common stock.
Key Details
The adjustment of the stock would go into effect after the close of the business day on December 23, 2024. The stock would start trading on a split-adjusted basis from December 24, 2024. Thanks to the stock split, the number of shares of the common stock would go up to 15 billion shares from 600 million shares.
Management Quote
Ryan Schadel, President and CEO of Metavesco, commented, “This forward stock split is a bold step forward and reflects our commitment to enhancing shareholder value. By increasing the liquidity of our shares, we aim to attract a broader base of investors while maintaining our solid financial position. Unlike many issuers with high liquidity driven by toxic convertible debt, Metavesco remains toxic debt-free, positioning us as a standout in the OTC market. This move aligns with our strategic vision of fostering long-term growth and resilience for our investors.”
