In a move that is designed to make the company a more attractive investment opportunity to institutional investors and brokerage firms, Bravatek Solutions Inc. (www.bravatek.com) (OTCQB:ECRY), the high technology security solutions portfolio provider, triggered a 1:10 reverse stock split of the company’s issued and outstanding Common Stock to be effective on December 4, 2015.
“This move, authorized by shareholders, will allow us to maintain our current financing and boost our capital raising ability,” said Bravatek Solutions, Inc.’s Chairman & CEO Thomas A. Cellucci, Ph.D., MBA. “We hope this will attract institutional investment and enable Bravatek to better expand and grow its operations—particularly with the influx of recent positive news related to the anticipation of its cybersecurity software availability on Amazon Web Services, as well as its recent announcement related to signing a Letter of Intent with construction company YKTG, LLC, for a $10-million plus decommissioning project with a major cell phone carrier.”
Cellucci says trading volatility is often associated with low-priced stocks so many brokerage houses and institutional investors have internal policies and practices that either prohibit them from investing in low-priced stocks or tend to discourage individual brokers from recommending low-priced stock to their customers.
The reverse stock split, he says, will hopefully put more investment dollars into play for Bravatek.
Bravatek says the liquidity of the common stock may be adversely affected by the reverse stock split given the reduced number of shares that would be outstanding after the split. However, the company anticipates that the expected higher market price and marketability of the Common Stock would mitigate some of those negative effects.
Bravatek Solutions common stock will trade under the ticker symbol “ECRYD” for 20 days, and then will change to “BVTK.”
The company also announced its name change to Bravatek Solutions, Inc. was approved by FINRA.
About Bravatek Solutions, Inc.
Bravatek Solutions, Inc. is a high technology security solutions portfolio provider that assists corporate entities, governments and individuals to protect their organizations against both physical and cyber-attacks through its offering of the most technically-advanced, cost-effective and reliable software, tools and systems.
For more information, visit www.bravatek.com.
Safe Harbor Statement
This press release contains certain “forward-looking statements,” as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management’s current expectations. The economic, competitive, governmental, technological and other factors identified in the Company’s previous filings with the Securities and Exchange Commission may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media contact:
Bravatek Solutions, Inc.
1.866.204.6703
SOURCE: Bravatek
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