OCALA, Fla., Nov. 14 /PRNewswire/ -- Imagica
Entertainment, Inc. (OTC Bulletin Board: IMEA)
announced that its common stock has been reverse
split on the basis of one new share for every ten
shares previously outstanding. This reverse split
is effective November 11, 1997 for stockholders of
record as of November 10, 1997. The reverse split
was approved by the Imagica Entertainment Board of
Directors.
Stockholders may surrender certificates representing
pre-split shares to Corporate Stock Transfer,
Imagica's transfer agent, to receive certificates
representing post-split shares. The ticker symbol
on the OTC Bulletin Board for the post-split common
stock will temporarily be "IMEAD" for approximately
thirty days. Thereafter, the symbol will revert to
"IMEA."
Braxton Jones, President of Imagica, stated,
"Imagica has been engaged in the production of large
format silk screenprinting since 1988. The company i
s continuing to see an increase in sales as a direct
result of the renewed marketing effort."
Mr. Jones also stated, "I joined Imagica
Entertainment because it is one of the world's
greatest companies with unlimited opportunities.
Imagica has a powerful global brand name, substantial
new financial resources, knowledgeable, dedicated
employees and an industry envied customer base...and
this unexcelled strength is just a starting point.
Our business plan when introduced, will be designed
to take full advantage of our many strengths, and
capitalize on the changes in the industry, technology
, and customer needs. We expect 1998 to be a banner
year for Imagica." |
