Clean Coal Technologies Announces Reverse Stock Split Will Take Effect April 25, 2014
NEW YORK, April 24, 2014 /PRNewswire/ -- Clean Coal Technologies, Inc. (CCTC) ("the Company"), an emerging cleaner-energy company utilizing patented technology to convert raw coal into a cleaner burning and more efficient fuel, today announced a reverse stock split of 35:1 which will occur at the opening of trading on Friday, April 25, 2014.
When the reverse stock split becomes effective, every 35 shares of common stock outstanding will automatically combine into one (1) new share of common stock with no change in par value per share. This will reduce the number of shares outstanding from approximately 920,816,641 to 26,309,046. The Company's common stock will trade on the OTC market under the symbol "CCTCD" for 20 days after which time the D will drop off and it will revert back to CCTC. On the back of this reverse CCTC is increasing its authorized share capital to 45,000,000 shares. The Company's Transfer Agent will make the necessary adjustments on the shareholder's behalf whenever a new transaction occurs.
A reverse stock split will serve to assist CCTC in restructuring and stabilizing its capital base and create a stronger foundation to enable the company to deploy its technology. This reverse is a key first step towards creating a more attractive vehicle for institutional investment.
For additional information on the Company: www.cleancoaltechnologiesinc.com.
About Clean Coal Technologies, Inc.
Clean Coal Technologies, Inc., a cleaner-energy technology company with headquarters in New York City, NY, holds patented process technology and other intellectual property that converts raw coal into a cleaner burning fuel. The Company's trademarked end products, "Pristine™" coals, are significantly more efficient, less polluting, more cost-effective, and provide more heat than untreated coal. The principal elements of the Company's pre combustion technology are based on well-proven science and tried-and-tested industrial components. The Company's clean coal technology may reduce some 90% of chemical pollutants from coal, including Sulfur and Mercury, thereby reducing emissions affecting some coal-fired power plants.
SOURCE Clean Coal Technologies, Inc.
Released April 24, 2014