DOVER, Del., Aug. 11, 2017 (GLOBE NEWSWIRE) -- Strategic Global Investments, Inc. (OTC PINK:STBV)/ (Counterparty DEX:STBV), a cryptocurrency ICO company will forward split all classes of its stock at 100 shares for every 1 share. The split date will be Friday, August 18th, 2017 at 9 am. All shares held by August 17th, 2017 at 11:59 pm will be included in the split.
The shares held must be fully paid and non-assessable. The new shares cannot be traded on the OTC market due to a temporary trading suspension set to expire on August 17th, 2017 at 11:59 pm. The SEC will remove the suspension provided it is satisfied that STBV has complied with its requests for current information.
There is no guarantee that the SEC will be satisfied, but STBV will comply fully.
There is no guarantee that market makers will continue to sponsor STBV on the OTC market.
There is a guarantee that a legal holder of shares can sell their shares to a legal buyer of shares.
That guarantee is called The Constitution of the United States of America.
While every shareholder will receive an equal proportion of shares post split, STBV will only be able to provide the post split shares to shareholders by physical certificate or on the DEX.
Short selling is not possible on the DEX, because shares must be owned before they can be sold.
High frequency trading is not possible on the DEX, because it is a peer to peer market with no brokers.
Shareholders that desire to trade their shares on the DEX, a Counterparty Bitcoin blockchain decentralized exchange, at the proper time must provide actual physical certificates so that the Company can facilitate the move to the DEX. STBV cannot participate in the trading of its securities until the suspension is lifted.
Garland E. Harris, President of STBV says, “The period of disintermediation has finally arrived in the realm of securities. There are markets that are under centralized control, like the OTC and there are markets that are decentralized and controlled by the individual transactional ability of a free people, like the DEX. In these peer to peer markets like the Counterparty DEX, that exists only on the Bitcoin blockchain, transactions don’t require (or allow for that matter) the permission or the trust of a third party, no matter how benevolent or artificially intelligent that third party may be.”
In the case of Overstock, Fortune asked the retailer—which recently began trading Series A Preferred shares on a blockchain platform—about the Delaware law, and a company official confirmed its subsidiary, Medici Ventures, will take advantage of the new listing option.
Get Data Sheet, Fortune’s technology newsletter.
"[We're] very excited about the possibilities this forward-thinking legislation from Delaware affords corporations, and plans to offer its shares and begin managing its shareholder records on the blockchain as soon as possible," said Jonathan Johnson, president of Medici Ventures and an Overstock.com board member.
Strategic Global Investments, Inc., a Delaware Corporation A CryptoCurrency ICO Company 1011 Adams St. WPB, FL 33407 407-504-7079 Garland E. Harris, President/CEO firstname.lastname@example.org
Source:Strategic Global Investments, Inc.