In addition to the reverse split, Impact’s Form 8-K discloses DSS BioHealth Security, Inc.’s, (“DBH”) conversion of substantially all of its 87.5% common stock equity interest in Impact into an equivalent number of Series A Convertible Preferred Stock. The Series A Convertible Preferred Stock can be converted back to Impact Biomedical common stock 75 days after
DBH has voluntarily removed itself from receiving any future dividends from earnings, enhancing greater return potential to the remaining Impact common stock equity holders, as currently only the holders of common of Impact are eligible for any potential dividend distributions.
Heuszel continued, “Existing Impact common stockholders, who previously held approximately 12% of the outstanding common stock of Impact, will now hold approximately 88% of the company’s common stock shares.”
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This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements related to the Company's intended use of proceeds and other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that may cause actual results or events to differ materially from those projected. These risks and uncertainties, many of which are beyond our control, include: risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results of development activities; our ability to attract, integrate and retain key personnel; our need for substantial additional funds; patent and intellectual property matters; competition; as well as other risks described in our
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