SANTA BARBARA, CA--(Marketwire - May 3, 2011) - Carbon Sciences Inc. (CABN), the developer of a breakthrough technology to make gasoline from natural gas, announced today that it is taking steps to list its shares on a senior U.S. securities exchange.
In a set of moves intended to position the Company for up-listing its shares to a senior U.S. securities exchange, the company's Board of Directors approved a 1-for-40 reverse stock split of its outstanding and authorized common stock and engaged New York City-based securities law firm Sichenzia Ross Friedman Ference LLP to act as legal counsel for this transaction.
According to Byron Elton, Carbon Sciences' CEO, "Sichenzia Ross Friedman Ference, is an extremely experienced securities firm and has recently shepherded several companies through the process of up-listing their shares to senior securities exchanges."
"Graduating to a senior securities exchange is a high priority for our company given the progress we have made in developing our breakthrough natural gas to gasoline technology," said Mr. Elton. "We believe that transitioning to a senior securities exchange is the next logical step in the company's future growth and will allow us to gain exposure and be recognized by a broader segment of the investment community. We have observed that a number of companies that up-listed to U.S. senior securities exchanges, such as the NASDAQ or American Stock Exchange, experienced impressive increases in liquidity and access to capital."
Elton added, "We believe this corporate strategy will help our company maximize its growth opportunities. Our technology will enable nations of the world to reduce their dependence on petroleum by cost-effectively using natural gas to produce cleaner and greener liquid fuels for immediate use in the existing transportation infrastructure. We've made significant progress in our development and have recruited industry-leading scientists from around the world to help advance our technology. We feel strongly that the company's shares will be better represented on a senior securities exchange."
Carbon Sciences' uses a proprietary and robust dry reforming catalyst that transforms methane from natural gas and carbon dioxide into a synthetic gas (syngas), a basic feedstock for producing gasoline and other liquid fuels using conventional gas-to-liquids (GTL) technology.
To learn more about Carbon Sciences' breakthrough technology for making gasoline from natural gas, please visit