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Phoenix Plus Corp. (OTC:PXPC) implemented a 1-for-50 reverse stock split on its common stock effective Friday. The company, which is incorporated in Nevada and operates in the construction sector, disclosed the move in a press release statement filed with the Securities and Exchange Commission.
The reverse stock split was approved by both the board of directors and shareholders on May 15, 2025. To effect the change, Phoenix Plus Corp. filed a Certificate of Amendment to its Restated Certificate of Incorporation with the Nevada Secretary of State, which became effective June 27, 2025.
As a result of the reverse split, every 50 shares of issued and outstanding common stock were automatically combined into one share. No fractional shares were issued; any resulting fractional shares were rounded up to the nearest whole share. The par value per share remains unchanged.
Following the reverse split, the number of outstanding common shares decreased from 332,699,500 to 6,653,990. The number of authorized shares for both common and preference stock was not affected by this action.
Phoenix Plus Corp.’s common stock continues to trade on the OTC Markets – Pink Sheets under the ticker symbol PXPC. The company is classified under the construction special trade contractors industry.
This report is based on a press release statement filed with the SEC.
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