Universal Apparel & Textile Company (DKGR:OTC) is pleased to announce, effective June 23rd, 2016, as approved by FINRA, that every 500 shares of the company’s existing, current, issued and outstanding common stock will be converted into one newly, issued share. Any fractional share resulting from this reverse stock split will be rounded up to the next whole
share. As a result of the reverse stock split, the total issued and outstanding shares of the company’s common stock will be decreased from 4,918,611,843 to 9,837,224. The previous CUSIP number of 91338J100 will now be 91338J209.
Updates will be forthcoming.
This release includes forward-looking statements, which are based on certain assumptions and reflects management’s current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise