SOURCE: Global Triad, Inc.

December 03, 2007 12:24 ET

Global Triad, Inc. to Change Name and Effect a One for 50 (1:50) Reverse Stock Split

DEERFIELD BEACH, FL--(Marketwire - December 3, 2007) - Global Triad, Inc. (PINKSHEETS: GBTD) announced today that a corporate name change to Miracle Applications Corp. and a one for 50 (1:50) reverse stock split of its outstanding common stock was effective as of close of business on Friday, November 30, 2007. These actions were undertaken following the recent acquisition of Global Triad, Inc. by Miracle Applications Corp., a Deerfield Beach, Florida-based company that has developed specialty chemical compounds that serve both the industrial and consumer market segments. This transaction, which was announced earlier this month, resulted in a change of control of Global Triad, Inc.

At close of business today every 50 shares of common stock outstanding immediately prior thereto will be equal to one share of common stock. No cash will be paid or distributed as a result of the reverse stock split and no fractional shares will be issued. All fractional shares which would otherwise be required to be issued as a result of the stock split will be rounded up to the nearest whole share. The split will be recorded on our stock transfer records in the form of book entry. As such, following the name change and reverse split the share certificates representing the pre-split shares bearing the name "Global Triad, Inc." will continue to be valid with the adjustment for the number of shares owned being made on our stock transfer records. In the future, certificates representing post-split shares and the corporate new name will be issued in due course as old share certificates are tendered for exchange or transfer to our transfer agent.

In connection with the name change and reverse stock split, the CUSIP number for our common stock will change to 604591 107 and the stock symbol for our common stock as quoted on the Pink Sheets will change to (PINKSHEETS: MIRA). Our common stock will be quoted on a post-split basis at market open on Monday, December 3, 2007.

Safe Harbor Statement

Statements contained herein, other than historical data, may constitute forward-looking statements. When used herein, the words "estimate," "project," "intends," "expects," "believes" and similar expressions are intended to identify forward-looking statements regarding events and financial trends which may affect our company's future operating results and financial position. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause our company's actual results and financial position to differ materially from those included within the forward-looking statements. These risks and uncertainties include, but are not limited to, our ability to implement our strategic initiatives, availability of sufficient working capital, general economic, political and market conditions and fluctuations, U.S. government and industry regulation, competition, and other factors. Most of these factors are difficult to predict accurately and are generally beyond our control. You should consider the areas of risk described in connection with any forward-looking statements that may be made herein. Readers are cautioned not to place undue reliance on these forward-looking statements. Except for our ongoing obligations to disclose material information under the Federal securities laws, we undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.

Contact Information

  • Contact:
    Mrs. Dymphna Galpern
    Miracle Applications Corp.