- Marijuana Company of America ( OTCPK:MCOA ) stated Tuesday it has initiated a process of 65-for-1 reverse stock split.
- That means every 65 shares of the company's common stock issued and outstanding will be automatically reclassified into 1 new share of common stock. It will reduce the MCOA's outstanding shares to 190.47M from 12.38B shares.
- "Concurrent with our business strategy, we have continued to invest in acquisitions that represent different cannabis verticals," said Chairman and CEO Jesus M Quintero.
- Earlier: Marijuana Company of America reports Q1 results
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Marijuana Company of America announces 65-for-1 reverse stock split