Aug 3, 2011 - US bio-based solar module components maker Biosolar Inc (OTC:BSRC) yesterday said it had completed a one-for-thirty reverse stock split as part of its plans to list its stock on a senior US stock exchange.
The transaction was mainly aimed at meeting the minimum share price requirement for trading on a senior US securities exchange, CEO David Lee said. He added that a higher share price would also attract more quality institutional investors.
A letter D has been added to the company's trading symbol BSRC for the next 30 trading days after the split.
Biosolar is preparing for commercialisation of its bio material-based backsheet, BioBacksheet, used to cover cells and protect them from the environment.