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SOURCE EFactor Corp.
Company Also Launches IR WebPage on efactorgroup.com and Announces Effectiveness of Reverse Split
SAN FRANCISCO, Nov. 4, 2013 /PRNewswire/ -- EFactor Group Corp. (OTCQB:STDR) ("EFactor" or the "Company"), owner of the EFactor.com niche social network for entrepreneurs, announced today that its common stock will begin trading today on the OTCBB trading platform. In conjunction with its first day of trading, EFactor launched its investor relations webpage on its corporate site at www.efactorgroup.com.
The Company also announced that its 1-40 reverse stock split became effective today. As a result of the reverse stock split, every 40 shares of the Company's issued and outstanding common stock will be automatically combined into one issued and outstanding share of common stock. The reverse stock split will affect all shares of the Company's common stock outstanding immediately prior to the market opening today.
No fractional shares will be issued as a result of the reverse stock split. Stockholders who otherwise would be entitled to receive a fractional share in connection with the reverse stock split will have their shares rounded up to the next whole share. Pacific Stock Transfer Company is acting as exchange agent for the reverse stock split and will send instructions to stockholders of record who hold stock certificates regarding the exchange of certificates for common stock. Stockholders who hold their shares in brokerage accounts or "street name" are not required to take any action to effect the exchange of their shares. Additional information on the treatment of fractional shares and other effects of the reverse stock split can be found in the Company's definitive information statement filed with the Securities and Exchange Commission on September 20, 2013. Pacific Stock Transfer Company can be reached at (800) 785-7782.
EFactor also announced that the Financial Industry Regulatory Authority (FINRA) has approved its ticker symbol change. As a result, the Company's shares will trade for the next 20 business days under the STDRD ticker symbol, after which time it will commence trading under its new ticker, EFCT.
Additionally, the Company launched its Investor Relations website at http://ir.efactorgroup.com. At the site, investors can obtain up-to-date prices for EFactor's common stock, review EFactor's SEC filings and sign up to receive EFactor's future press releases.
"This is another step we have taken to strengthen our public markets infrastructure and further our growth," said Marion Freijsen, COO of EFactor. "We are excited about these changes and look forward to applying the new ticker – EFCT. We intend to continue making additional improvements in our public market brand and are looking forward to launching the Company's strategy in earnest."
About EFactor Group Corp.
EFactor Group Corp. has at its core EFactor.com, a niche social network for entrepreneurs. EFactor.com provides its members with the people, tools, marketing and expertise to succeed and make real, trustworthy and lasting connections. At the core of the network lies a strong algorithm that allows members to not only connect with a lot of people, but with the right people. In addition, EFactor provides knowledge, facilitates preparing for funding and resources to reduce business costs, delivered through a mix of online social networking and offline domestic and international events.
EFactor.com has over one million members in 222 territories across 240 industries. It is incorporated in Nevada and headquartered in San Francisco. For more information, visit http://www.efactor.com
EFactor Group Corp. also has various subsidiary service organizations including a UK communications and public relations agency and a company that delivers matching software for mentors to find the best mentees.
The EFactor Value
EFactor is a social network designed to support you as your business grows, along every step of your journey. We'll be there to congratulate you every time you win and will coach and inspire you whenever you feel frustrated by setbacks. You can count on us to connect you with the right people for you and your company and offer you the resources and talent that will help you succeed. We are highly motivated everyday people who genuinely care about our team and customers. We cheer each other on and have each other's back. We get to see our ideas come to life every single day. We're entrepreneurs, contributing our expertise to the community.
Any statements in this release that are not historical facts are forward-looking statements. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements involve risks and uncertainties, including but not limited to those discussed from time to time in our Securities and Exchange Commission filings. We undertake no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made except as required by law.
Investor Relations Contact:
John Mattio, Sr. Vice-President
MZ North America
Direct: (212) 301-7131
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