AudioEye announces execution of reverse stock split
AudioEye announced that its previously disclosed a 1-for-25 reverse stock split of its issued and outstanding common stock is expected to become effective prior to the open of the market on August 8, and the company's common stock should begin trading on a split-adjusted basis when the market opens on August 8. The company's common stock will continue to trade on the OTCQB under the symbol "AEYE" and the new CUSIP number will be 050734 201. As a result of the Reverse Split, each twenty-five pre-split shares of common stock outstanding will automatically combine into one new share of common stock without any action on the part of the holders. No fractional shares will be issued as a result of the Reverse Split. Any fractional share resulting from such aggregation of common stock upon the Reverse Split shall be rounded up and converted to the nearest whole share of common stock.