Focus Universal Inc. to Seek Shareholder Approval for Increased Number of Shares for Future Stock Dividends
Focus Universal Inc. (NASDAQ:FCUV) announced on March 8, 2023, that its Board of Directors has proposed an increase in the authorized number of common stock. This move aims to facilitate potential stock dividends in the future. Shareholders will vote on this proposal during the upcoming 2022 Annual General Meeting. Focus Universal, recognized for its patented technologies in IoT and 5G, holds 26 patents and patents pending across five innovative platforms. The company's advancements are designed to enhance efficiency and reduce costs within the industry.
- Shareholder vote on increasing authorized common stock to facilitate future stock dividends.
- Focus Universal holds 26 patents and patents pending, indicating strong intellectual property portfolio.
- None.
ONTARIO, CA and LOS ANGELES, CA / ACCESSWIRE / March 8, 2023 / Focus Universal Inc. (NASDAQ:FCUV) ("Focus" or the "Company"), a provider of patented hardware and software design technologies for Internet of Things (IoT) and 5G announced today that its Board of Directors has approved to include upon the ballot to increase the authorized number of common stock. The company will now seek investor approval to increase its number of shares to enable stock splits in the form of dividend in upcoming annual shareholder meeting.
Focus Universal shareholders will vote on this proposed increase in shares on the ballot at the 2022 Annual General Meeting. This solicitation of proxy votes from shareholders will occur in the same manner as all other management proposals. As mentioned, authorization for the increased number of common shares in Focus Universal will permit company issue multiple stock dividends to our investors in the future.
About Focus Universal:
Focus Universal Inc. (NASDAQ:FCUV) is a provider of patented hardware and software design technologies for Internet of Things (IoT) and 5G. The company has developed five disruptive patented technology platforms with 26 patents and patents pending in various phases and 8 trademarks pending in various phases to solve the major problems facing hardware and software design and production within the industry today. These technologies combined to have the potential to reduce costs, product development timelines and energy usage while increasing range, speed, efficiency, and security. Focus currently trades on the Nasdaq Global Markets and is in the Russell 2000 Index.
Forward-Looking Statements:
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof and Focus Universal specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
For investor and media inquiries, please contact:
Skyline Corporate Communications Group, LLC
Lisa Gray
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
lisa@skylineccg.com
For company inquiries, please contact:
Investor Relations
626-272-3883
ir@focusuniversal.com
SOURCE: Focus Universal Inc.
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FAQ
What is the proposed increase in authorized shares for Focus Universal (FCUV)?
When will the shareholder vote take place regarding the increase in shares for FCUV?
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