Advant-e Corporation (OTC Bulletin Board: ADVC),a provider of Internet-based Electronic Data Interchange and electronic document management software and services today announced that it has received notice from FINRA concerning the previously announced ten-for-one forward stock split. As reported on the "Daily List" at the OTCBB.com web site, FINRA has approved the company's ten-for-one forward stock split with a Record Date of November 30, 2009, a Payment Date of December 1, 2009, and an Ex Date of December 2, 2009.
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Shareholders will automatically receive nine additional shares for each share owned with no action required by shareholders. Advant-e, expects that its common stock will begin trading post-split on December 2, 2009. As part of the forward split, the company amended its Articles of Incorporation with the State of Delaware to increase the number of authorized shares to 100,000,000, par value $.001. After the ten-for-one forward split, the company will have 66,722,690 shares issued and outstanding. On October 30, 2009, Advant-e, also announced a $2 Million cash dividend in the form of three separate payments of $.01 per share (post split) by no later than December 31, 2009, June 30, 2010, and December 31, 2010. Advant-e, expects to announce the first cash dividend record date by December 15, 2009 with a payment date of no later than December 31, 2009. Advant-e, via its wholly owned subsidiaries Edict Systems, Inc. and Merkur Group, Inc. is a provider of internet-based hosted Electronic Data Interchange (EDI) and electronic document management software and services. The Company helps businesses automate manual, paper-intensive processes via expanded use of EDI or by integrating directly with ERP/MRP systems. The information in this news release includes certain forward looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the company. Although the company believes that the expectations reflected on its forward looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties.
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