Item 8.01 Other Events.
On
As a result of the reverse stock split, we will have issued and outstanding
approximately 32,294,483 shares of common stock, without giving effect to
rounding up of fractional shares. Each share certificate representing pre-split
shares of common stock will be deemed to represent 1/10th share of post-split
common stock. New share certificates will be issued in the future to reflect the
stock split, but this in no way will affect the validity of current share
certificates. New certificates representing post-split common stock will be
issued in due course as old share certificates are tendered for exchange or
transfer to our transfer agent: Transhare Securities Transfer and Registrar,
The reverse split will decrease the number of outstanding common shares but will not affect any stockholder's proportionate interest in our company, except for possible minor differences resulting from the rounding up of fractional shares. Post-split common shares will trade under the symbol "FERD" for 20 business days after the effective date of the reverse split. Thereafter, the trading symbol will revert to "FERL". All post-split common shares will be fully-paid and non-assessable, and the rights and preferences of the outstanding shares will remain the same as pre-split shares.
Cautionary Note About Forward-looking Statements
Statements contained in this current report which are not historical facts, may be considered "forward-looking statements," which term is defined by the Private Securities Litigation Reform Act of 1995. Any "safe harbor" under this Act does not apply to a "penny stock" issuer, which definition would include the company.
Forward-looking statements are based on current expectations and the current economic environment. We caution readers that such forward-looking statements are not guarantees of future performance. Unknown risks and uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance or expectations expressed or implied by such forward-looking statements.
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