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SAN DIEGO, Feb. 07, 2019 (GLOBE NEWSWIRE) -- Driven Deliveries, Inc., (DRVD), the world’s first and only publicly traded cannabis delivery company, announced today Financial Industry Regulatory Agency (FINRA) has approved their proposed 12.35:1 forward stock split, and that the company will be trading a split-adjusted basis today, February 7, 2019. Driven Deliveries, Inc. began trading on the OTC under the new stock ticker symbol “DRVD” on January 28, 2019.
“Management chose to do a forward stock split because we feel it will provide greater visibility and liquidity to our stock and offers a more attractive buying opportunity to both current and new shareholders,” stated Mr. Chris Boudreau, Chief Executive Officer of Driven. “Driven is on an exciting trajectory as we continue to execute on our goals. Having relaunched under our new name, ticker and capital structure, we believe we can now focus on our primary objective, which is establishing as ourselves as a market leader within the growing legal cannabis market.”
On August 29, 2018, Results Based Outsourcing Inc. (RBOS), disclosed 3 actions: a merger with Driven Deliveries, Inc., a name change with a new business plan to Driven Deliveries, Inc., and a 12.35:1 forward stock split. The 10-Q’s reference to the retroactive effect of the share split means that the accountants have given retroactive effect to the reverse split for the purposes of preparing the financial statements – meaning, the number of issued and outstanding shares in the 10-Q was adjusted as if the split had already occurred. However, the statement in the 10-Q has absolutely nothing to do with the effectiveness of the split in the market or the payment (dividend) of the shares to shareholders.
Driven Deliveries, Inc. is the only publicly traded cannabis delivery service operating within the United States. Founded by experienced technology and cannabis executives, the Company provides on-demand marijuana delivery, in select cities where allowed by law. Driven provides the legal cannabis consumers the ability to purchase and receive their marijuana in a fast and convenient manner. By 2020, legal cannabis revenue in the U.S. market is projected to hit $23 billion. In leveraging consumer trends, and offering a proprietary, turnkey delivery system to its customers, management believes it is uniquely positioned to best serve the needs of the emerging cannabis industry and capture notable market share within the sector. For more information, please visit https://GoDriven.com/ and review Driven’s filings with the U.S. Securities and Exchange Commission.