Obee’s Franchise Systems, Inc. announced today that its Board of Directors has approved a reverse split of Obee’s Franchise System common stock at a ratio of 100-for-1 shares.
We believe the reverse stock split will better position our company to apply for a listing on a national securities market or exchange. Our goal is to work towards meeting their listing standards, and reverse split of our shares will place us one significant step closer to achieving that goal. Moreover, the company believes that a higher share price would broaden OBFM’s appeal to new investors,” said Mr. Peter Brown, Division President of Obee’s Franchise Systems, Inc.
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