Jade Art Group, Inc. (JADG.OB) Announces One-For-Three Reverse Stock Split
The board of directors and majority of the company’s shareholders of Jade Art Group, a seller and distributor of raw jade sourced from the SheTai Jade mine in China, have authorized a one-for-three reverse stock split of its outstanding common stock effective May 15, 2008. The details of the reverse stock split are as follows: Every three shares of the Company’s outstanding common stock will be combined into one share of common stock. The reverse split will reduce the number of outstanding shares of the company’s common stock from 239,940,000 shares to 79,980,000 shares (based on the number of shares…