Active Health Foods, Inc. Ending Reg a Offering, Approves Substantial Reverse Split

Rhea-AI Summary

Active Health Foods, Inc. (AHFD) has terminated its $20 million Regulation A public offering and approved a substantial 1-for-7,000 reverse stock split. Following the split, the company's total shares will be reduced to 100 million, down from 37 billion authorized previously. This move aims to qualify for NASDAQ Capital Market listing, expected in Q1 2023. President Joe Wallace stated that the goal is to uplist once the stock trades at $4.00 per share for 90 days, enhancing shareholder value and attracting new market makers.

Positive

• Termination of $20 million Regulation A offering may simplify capital structure.
• Reverse split aims for NASDAQ listing, potentially increasing shareholder value.
• Company plans to expand its successful healthcare model internationally.

Negative

• Significant reverse split may dilute current shareholder value.
• Termination of public offering can restrict access to capital.

Los Angeles, CA, Aug. 26, 2022 (GLOBE NEWSWIRE) -- ACTIVE HEALTH FOODS, INC. (OTC: AHFD) has terminated the previously announced $20 Million Regulation A public offering of its shares. Separately, the Company has approved and filed with the Financial Industry Regulatory Authority (FINRA) to implement a substantial reverse-split of its common shares on a 1-for-7,000 basis. Upon completion of the reverse-split of the AHFD shares, the filed corporate action includes change the company’s name to “Active Health, Inc.” as well as trading symbol on OTC Markets.

The post-split capitalization for the Company will be reduced to 100 million common shares authorized. The previous increase to 37 billion authorized shares for the purpose of the Reg A offering will be amended. The purpose of the reverse-split is to qualify the Company for listing on the NASDAQ Capital Market, which is anticipated in the first quarter of 2023.

Joe Wallace, AHFD President, stated “Our plan is to uplist to the NASDAQ Capital Markets once AHFD’s minimum bid price trades at $4.00 per share for 90 days, which will increase the value to all of our shareholders and attract new market makers trading our shares. We believe that there has been confusion about our plans in the trading market, between the previously announced Reg A and the reverse-split. Hopefully this announcement will clarify the situation.”

Contact:
Joseph Wallace, President
Active Health Foods, Inc.
Email: Joe@jwallace.biz

About Active Health Foods, Inc.
Active Health Foods, Inc. (AHFD) recently acquired Bioidentical Hormones, Inc. (www.bio-hormones.com) and its 20-year operating subsidiary, Australian Menopause Centre (AMC) (www.menopausecentre.com.au), in addition to continuing to develop its Etrnl Cosmetics (www.etrnlcosmetics.com) skin care subsidiary. AMC has successfully treated more than 80,000 women with menopause symptoms, since 2003, using Bioidentical Hormones Replacement Therapy and Telemedicine on a national basis in Australia. AHFD intends to roll-out this business model to 45 countries during the next 3 years. AHFD is focused on Healthcare and the Anti-Aging Medicine industry.

Forward Looking Statements
This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including “could”, “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this Press Release.

FAQ

What is the significance of Active Health Foods, Inc. terminating its Regulation A offering?

The termination simplifies the capital structure, as the company shifts focus to a reverse stock split and uplisting.

When is Active Health Foods, Inc. expected to list on NASDAQ?

The company anticipates NASDAQ listing in the first quarter of 2023.

What is the reverse stock split ratio for Active Health Foods, Inc.?

The reverse stock split for AHFD is set at a 1-for-7,000 basis.

How will the reverse split affect Active Health Foods, Inc. shareholders?

It may dilute current shareholder value, but the company aims to enhance overall market perception by uplisting.

What is the new trading symbol for Active Health Foods, Inc. after the name change?

The company will change its name to 'Active Health, Inc.' and its trading symbol will be updated as well.