Medisafe 1 Technologies Corp. (OTCBB: MFTH), a developer of patented technologies that physically prevent unauthorized administration of prescription medications, will be issuing and completing a forward stock split of 5-1 in the form of a stock dividend on its common shares.
The Company anticipates the stock dividend will be payable on or about September 20 2010 to the shareholders of record on September 17 2010 and is subject to FINRA approval. When the stock dividend becomes effective, shareholders of each one restricted stock will receive an additional 4 shares of restricted stock and each shareholder of one unrestricted stock will receive an additional 4 shares of unrestricted stock. Medisafe 1 Technologies currently has 10,000,000 shares outstanding. The forward stock split in the form of the issuance of the dividend will increase the total shares outstanding to 50,000,000. Medisafe 1 expects the Board's decision will improve liquidity and trading volume in the Company's stock.