Significant Corporate Changes Underway For Next Phase
NEW YORK, NY / ACCESSWIRE / August 5, 2020 / Toron Inc. (OTC PINK:TRON) ("Toron" or the "Company"), today announced that it has completed several significant corporate milestones.
Toron is focused on providing disruptive technology for micro payments and mobile device online gaming, telecommunications and fintech services creating hi tech solutions, developing applications and forming distribution partnerships for strategic growth of owned and partner brands with distribution in the market globally.
The Company announced today that FINRA has finished processing the Company's application to move forward with certain corporate actions, and confirmed a corporate name change to All Things Mobile Analytic, Inc. The Company changed its name in the State of Nevada, with a Certificate of Amendment filed on January 12, 2020. The Company will commence using its new name immediately.
Further, the Company announced a change in its trading symbol. The new trading symbol will become OTC PINK:ATMH which the company feels more appropriately reflects the activities of the business - ‘All Things Mobile Analytic Inc.™'. For the next 20 business days (starting August 6, 2020), the trading symbol will temporarily be TROND, then will begin trading under the new ticker symbol, ATMH.
Additionally, the Company announced a 1:200 reverse split of its issued and outstanding common stock. The reverse stock split will become effective August 6, 2020 (the "Effective Date"). The company's common stock is expected to begin trading on a split-adjusted basis when the markets open on August 6, 2020 under the trading symbol "TROND". The new CUSIP number following the reverse split will be 016691107.
Every 200 shares of the Company's current issued and outstanding common stock will automatically be converted into one issued and outstanding share of common stock, with no change in par value per share. Stockholders are not required to take any action; no fractional shares will be issued following the reverse split. Stockholders holding fractional shares as a result of the reverse stock split will be rounded up to the next whole share.
"We are pleased to continue delivering on our commitments to shareholders and the marketplace. Our customers, as well as our stockholders, win; with agreements in place, we're proud to announce that products, deliveries, services and partnerships, have started to progress forward," stated CFO Massimo Travagli. "Completing these corporate actions enable us to strengthen the brand of our company for current and future potential customers, while putting our stock in a better position to attract investment within the investment community. We look forward to announcing our third quarter financials in the near future and focusing on a strong finish for the year."
COVID-19 Pandemic: The recent COVID-19 pandemic could have an adverse impact on the Company going forward. COVID-19 has caused significant disruptions to the global financial markets, which severely impacts the Company's ability to raise additional capital and to pursue certain contracts. The Company may be required to substantially reduce operations or cease operations if it is unable to finance our operations. The full impact of the COVID-19 outbreak continues to evolve as of the date of this report, and is highly uncertain and subject to change. Management is actively monitoring the situation but given the daily evolution of the COVID-19 outbreak, the Company is not able to estimate the effects of the COVID-19 outbreak on its operations or financial condition in the next 12 months.
The statements contained in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "estimate," "predict," "potential," "pursuant," "target," "continue," and similar expressions are intended to identify such forward-looking statements. The statements in this press release that are not historical statements, including statements regarding Toron's plans, objectives, future opportunities for Toron's services, future financial performance and operating results and any other statements regarding Toron's future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws. These statements are not guarantees of future performance and are subject to numerous risks, uncertainties, and assumptions, many of which are beyond Toron's control, and which could cause actual results to differ materially from the results expressed or implied by the statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict, and include, without limitation, results of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending; global economic conditions; ability to hire and retain personnel; loss of, or reduction in business, with key customers; difficulty with growth and integration of acquisitions; product liability; cybersecurity risk; and, anti-takeover measures in our charter documents. Any forward-looking statement is made only as of the date of which such statement is made. Except as otherwise required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
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Amy Samantha Gonzales
SOURCE: Toron, Inc.