FitLife Brands Implements 4-for-1 Forward Stock Split
On December 14, 2021, FitLife Brands announced a 4-for-1 forward stock split, which took effect on December 8, 2021. Prior to the split, there were 1,125,690 shares outstanding, increasing to 4,502,760 shares post-split. The stock symbol temporarily changed from FTLF to FTLFD and will revert after 20 trading days. This move aims to enhance liquidity and assist in meeting the 300 unrestricted round lot shareholders requirement for Nasdaq listing. The change does not affect ownership percentages.
- The stock split aims to increase liquidity, potentially making it easier for FitLife Brands to attract more investors.
- Completing the stock split may help the company meet the criteria for Nasdaq listing.
- There are risks associated with uplisting to Nasdaq, including the company's ability to maintain its listing and grow revenue under increased scrutiny.
- The company's ability to achieve positive cash flow is uncertain, given existing and anticipated operating costs.
Omaha, Dec. 14, 2021 (GLOBE NEWSWIRE) -- FitLife Brands Implements 4-for-1 Forward Stock Split
OMAHA, NE – December 14, 2021 -- FitLife Brands, Inc. (“FitLife” or the “Company”) (OTCQX: FTLFD), an international provider of innovative and proprietary nutritional supplements for health-conscious consumers marketed under the brand names NDS Nutrition, PMD, SirenLabs, Nutrology, CoreActive, Metis Nutrition, iSatori, Energize, and BioGenetic Laboratories announced that it has implemented a 4-for-1 forward stock split. The Company’s common stock began trading on a split-adjusted basis on Wednesday, December 8, 2021.
In conjunction with the stock split, the CUSIP number for Company’s common stock changed to 33817P306. In accordance with FINRA’s procedures for forward stock splits, the trading symbol for the common stock has temporarily changed from FTLF to FTLFD. After 20 trading days, the stock symbol will automatically revert to FTLF.
As of December 7, 2021, immediately prior to the forward stock split, there were 1,125,690 shares of the Company’s common stock outstanding. Immediately following the forward stock split, there were 4,502,760 shares of the Company’s common stock outstanding. The forward stock split does not change any stockholder’s percentage ownership interest or proportional voting power. Additional details about the forward stock split are included in the Form 8-K filed with the SEC by the Company on December 7, 2021.
Dayton Judd, the Company’s Chairman and CEO, commented, “Earlier this year, the Company announced its intent to qualify for listing on the Nasdaq Capital Market. The Company believes that it meets all of Nasdaq’s initial listing criteria other than the requirement to have 300 unrestricted round lot shareholders. The board of directors anticipates that the forward stock split will increase the liquidity of the Company’s common stock and help the Company achieve the 300-shareholder requirement more quickly than would be possible without the forward stock split.”
About FitLife Brands
FitLife Brands is a developer and marketer of innovative and proprietary nutritional supplements for health-conscious consumers. FitLife markets over 130 different dietary supplements to promote sports nutrition, improved performance, weight loss and general health primarily through domestic and international GNC franchise locations as well as through more than 17,000 additional domestic retail locations and, increasingly, online. FitLife is headquartered in Omaha, Nebraska. For more information, please visit our website at www.fitlifebrands.com.
Forward-Looking Statements
Statements in this release that are forward looking involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this news release. Such factors may include but are not limited to: whether the Company will be successful in uplisting to the Nasdaq Capital Market, and if the Company is successful, whether the Company can maintain its listing on the Nasdaq Capital Market; the ability of the Company to continue to grow revenue; and, the Company's ability to continue to achieve positive cash flow given the Company's existing and anticipated operating and other costs. Many of these risks and uncertainties are beyond the Company's control. Reference is made to the discussion of risk factors detailed in the Company's filings with the Securities and Exchange Commission including its reports on Form 10-K and 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.
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