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QT 5, Inc. Announces Shareholder Approval of 1:10 Reverse Stock Split
WESTLAKE VILLAGE, Calif., April 20, 2004 (PRIMEZONE) -- QT 5, Inc.(NASDAQ-OTCBB:QTFV) (OTCBB:QTFV), manufacturer, distributor and marketer of biomedical products, today announced that it has obtained shareholder approval for a 1:10 reverse stock split of its shares of common stock.
As a result of this approval, the company's certificate of incorporation will be amended and each ten currently outstanding shares of common stock will be automatically converted into one share of common stock. The company will receive a new trading symbol and expects to effectuate the reverse split this week. Management believes that if it is successful in maintaining a higher stock price, the stock will generate greater interest among professional and institutional investors.
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