SANTA BARBARA, CA –(Marketwired – April 26, 2016) – Carbon Sciences Inc. (OTCBB: CABN), focused on developing breakthrough technologies based on graphene, the new miracle material, today announced that the Company had completed its previously announced 1-for-10 reverse stock split of its outstanding and authorized common stock.
To allow for an orderly transition, the Company’s shares are temporarily trading under the “CABND” stock symbol.
A company that has undergone a reverse stock split often gets the letter “D” attached to the end of its ticker symbol. This letter is used to designate a company that is undergoing a stock split, or some form of corporate reorganization. This letter is generally attached to the end of the ticker for approximately 20 trading days before it’s removed.
As previously stated by Bill Beifuss, the Company’s president, “We believe that the stock split will better position the company’s stock price to accommodate the Company’s growth-by-acquisition strategy to extend its presence in the $3.8 trillion worldwide information technology (IT) market.”
Also, as previously announced, the Company’s plan is to grow by acquiring profitable IT services providers, which in the future may also provide a channel of distribution for its graphene-based networking device technology currently in early research and development. The IT services sector alone accounts for approximately $1 trillion of the total $3.8 trillion total worldwide IT market.
Carbon Sciences will continue to work with the University of California, Santa Barbara (UCSB) to develop a new graphene-based optical modulator, a critical fiber optics component needed to help unclog the existing bottlenecks and enable ultrafast communication in data centers for Cloud computing.
UCSB is considered to be a global leader in bioengineering, chemical and computational engineering, materials science, nanotechnology and physics. UCSB boasts five Nobel Laureates (four in sciences and engineering) and one winner of the prestigious Millennium Technology Prize. The 2014 Academic Ranking of World Universities ranked UCSB Engineering/Technology and Computer Science as #7 in the world.
About Carbon Sciences, Inc.
Carbon Sciences is developing breakthrough technologies based on graphene, the new miracle material. Graphene, a sheet of pure carbon that is only one atom thick, is flexible, transparent, impermeable to moisture, stronger than diamonds and more conductive than gold. After successfully exploring methods to produce low cost graphene, Carbon Sciences is now developing a new graphene-based optical modulator, a critical fiber optics component needed to help unclog the existing bottlenecks and enable ultrafast communication in data centers for Cloud computing.
The Company is also undertaking a growth-by-acquisition strategy to extend its presence in the $3.8 trillion worldwide information technology (IT) market with a particular focus on profitable IT services providers.
To learn more about Carbon Sciences, please visit www.CarbonSciences.com.
Safe Harbor Statement
Matters discussed in this press release contain statements that look forward within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such statements that look forward. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the statements that look forward contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These statements that look forward are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.