B-Scada, Inc. has submitted the necessary documentation with Finra and other required agencies to execute a 1 for 10 reverse split of its common stock.
Online PR News – 02-May-2016 – Crystal River, FL – CRYSTAL RIVER, FL: B-Scada, Inc. (OTCQB: SCDA) ("B-Scada") today announced that the company has submitted the necessary documentation with Finra and other required agencies to execute a 1 for 10 reverse split of its common stock. The corporate action will take effect 5/2/2016. The new symbol for the company will be SCDAD. The “D” will be removed after 20 business days and the symbol will change to SCDA. The number of authorized shares and the par value per share will remain unchanged.
“Over the last few months we have had discussions with investors, advisors and our board about our capital structure. By completing this reverse stock split, we expect to gain broader access to the institutional investment community, it is also one of the required steps for us to relist on a major exchange. This strengthened position will provide us the opportunity to fund future transactions which may be required for growth of the company” said Ron DeSerranno CEO of B-Scada.
B-Scada provides software and hardware solutions for the monitoring and analysis of real time data in the SCADA (Supervisory Control and Data Acquisition), IoT (Internet of Things) and Smart City domains. B-Scada systems are sold worldwide in various verticals including building automation, transportation, smart grid, manufacturing, agriculture and commerce. B-Scada solutions are deployed onsite and as cloud-hosted solutions in a SaaS (Software as a Service) model. Learn more at http://scada.com