Fonu2, Inc.

February 03, 2015 08:47 ET

Fonu2 Announces Completion of Reverse Stock Split

FT. LAUDERDALE, FL--(Marketwired - Feb 3, 2015) - Fonu2, Inc. (OTCQB: FONU) (OTCBB: FONU) ("Fonu2", "Company") today announced that the Company will implement the previously disclosed 1-for-400 reverse split of its common stock effective at the opening of trading today. At that time, Fonu2's common stock will trade on a split-adjusted basis under new CUSIP number 30255C201 and temporary symbol "FONUD," with the "D" appended to signify that the reverse stock split has occurred. Fonu2's trading symbol will revert to "FONU" after 20 trading days.

The reverse stock split will reduce the number of shares of common stock issued and outstanding from approximately 1.12 Billion to approximately 2.8 Million. It also reduces the number of shares of preferred stock from 2.5 Million to 6,250 shares. The reverse stock split is intended to improve market awareness of the Company's common stock and position the Company for potential future listing of its common stock on the OTCQB and/or other national exchanges.

No fractional shares will be issued in connection with the reverse stock split. Any remaining fractional shares will entitle shareholder to receive a full share of post-split shares.

Roger Miguel, Chief Executive Officer of Fonu2, stated, "Since the acquisition of Studioplex City LLC, management has been working very hard to restructure the company and integrate operations. The reverse split was a critical element in building a solid capital structure for the Company. Over the coming weeks, we anticipate making a number of significant announcements regarding the 'Effa' film project, our Social Commerce business, acquisitions and strategic partnerships."

About Fonu2 Inc.:
Fonu2 is a film production and social commerce company that is developing a precision sales and marketing platform that integrates into the social media networks. The Fonu2 platform offers members list, buy, sell, and trade services locally in any neighborhood and anywhere in the world. For additional information, visit our website, You can also follow us on our social network, Facebook, Google + and Twitter.

Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.

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