Nightfood Holdings Inc. (OTCQB: NGTF) has issued a letter to shareholders to clarify its recently filed Preliminary Schedule 14C Information Statement regarding authorization for a potential reverse stock split. The company's board of directors and majority stockholder have approved authorization for the board to effect a reverse split within a range of 1-for-150 to 1-for-250, in connection with a potential listing on a national securities exchange.
The authorization gives the board discretion to determine whether and when to implement a reverse split, and to select a ratio based on market conditions and the company's trading price at that time. Nightfood emphasized that the authorization does not mean a reverse split will necessarily occur, and that the board may abandon the action altogether.
This clarification comes as Nightfood, which does business as TechForce Robotics, focuses on AI-driven robotics, enterprise automation, hospitality automation, pharmaceutical automation, and advanced-technology commercialization. Through strategic acquisitions, partnerships, and technology-development initiatives, the company is building a diversified automation platform serving multiple high-growth industries.
For more details, the full press release can be viewed at https://ibn.fm/DXOVA. The latest news and updates about NGTF are available in the company's newsroom at http://ibn.fm/NGTF.
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