LataMed AI Corp. (OTC: LMED), a development-stage digital health and artificial intelligence technology company, provided shareholders with an update on the implementation of its previously announced 5-for-1 forward stock split and related mandatory share exchange process. The company has submitted all requested information to FINRA and anticipates the corporate action may become effective within approximately the next week, subject to FINRA's review and final processing. The forward stock split will be accompanied by a new CUSIP number (21116R404) to facilitate the mandatory share exchange.
For shareholders holding shares through a brokerage account, no action is required, as brokerage firms are expected to process the exchange automatically. Similarly, registered book-entry shareholders will have their accounts updated by the company's transfer agent. However, physical stock certificate holders are not required to immediately surrender their certificates, but when they submit them for transfer, sale, or exchange, the transfer agent will process the mandatory exchange and issue post-split shares under the new CUSIP. Additional instructions will be provided by the transfer agent as the process moves forward.
Dr. Kevin Rodan Levy, CEO of LataMed AI, emphasized the importance of clear guidance for shareholders, particularly those with physical certificates. He stated that management intends to focus on advancing the company's telemedicine platform and pursuing licensing and commercialization opportunities for its CardioAI, PulmoAI, and NeuroAI artificial intelligence platforms. These initiatives are central to the company's long-term strategy of building an integrated digital healthcare ecosystem throughout Latin America.
Management believes the forward stock split supports the company's corporate development and strategic initiatives, facilitating the implementation of the new CUSIP and updated capital structure. Shareholders with questions are encouraged to contact their brokerage firm or the company's transfer agent once detailed exchange instructions become available. For additional information, visit https://latamed.ai or review the company's filings with the SEC at www.sec.gov.
