PowerTap Hydrogen Capital (NEO: MOVE) (OTC: MOTNF), a leading provider of on-site hydrogen production technology, will be consolidating all of the company’s issued and outstanding common shares. According to the announcement, the reverse stock split will be on the basis of 1 postconsolidation common share for each 20 preconsolidation common shares. The company anticipates that the effective date for trading of the common shares on a postconsolidation basis on the NEO Exchange will be on or about June 15, 2023, with the company’s name and trading symbol remaining unchanged. The company expects the consolidation to result in a reduction of issued and outstanding common shares, from 472,216,116 preconsolidation common shares to an estimated 26,610,806 postconsolidation common shares with current shareholders continuing to own the same percentage of PowerTap Hydrogen Capital Corp. as they currently do.
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About PowerTap Hydrogen Capital Corp.
PowerTap Hydrogen, through its wholly owned subsidiary PowerTap Hydrogen Fueling Corp., is focused on installing hydrogen production and dispensing fueling infrastructure in the United States. PowerTap’s patented solution has been developed over 20 years. PowerTap is now commercializing its third-generation blue-hydrogen product, which will focus on the refueling needs of the automotive and long-haul trucking markets that lack hydrogen fueling infrastructure. For more information about the company, please visit www.PowerTapcapital.com and www.PowerTapfuels.com.
NOTE TO INVESTORS: The latest news and updates relating to MOTNF are available in the company’s newsroom at https://ibn.fm/MOTNF
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