SCOTTSDALE, AZ--(Marketwired - Dec 21, 2016) - Light Engine Design Corp. (OTC PINK: TLED) announces that FINRA has completed processing the corporate action related to a 1/6 reverse split of the Corporation's issued and outstanding shares of common stock, effective Dec. 21, 2016. In addition, the Company has reduced the number of its authorized shares of common stock from 500,000,000 to 150,000,000.
The Company determined that it was desirable to reduce the number of outstanding shares of common stock in order to avoid negative market perceptions associated with OTC companies that have hundreds of millions of shares outstanding. These actions were taken in the wake of the Company's recent acquisitions of Dallas Lighting & Photonics and Tall Trees LED Company and accompany its recent name change, which better reflects the company's aggressive movement into the solid-state lighting (SSL) markets.
"These changes reflect a proactive approach to avoiding the stigma typically associated with OTC companies that have hundreds of millions of shares outstanding, as we move aggressively to grow these exciting synergistic businesses," stated CEO Robert Manes.
Dallas Lighting and Photonics is positioned to provide OEM design and manufacturing for leading SSL companies as well as developing its own product lines based on proprietary designs and patent pending technology. Tall Trees LED Company will continue to design and manufacture its highly advanced horticultural and related SSL products, taking advantage of DLP's design expertise and IP.
About the Company: The Company will seek to be an industry pioneer in the research, development, manufacturing, and sales of state-of-the-art Solid-State Lighting (SSL). The Company will specialize in the design of advanced light engines and fixtures employing cutting edge light emitting diode (LED) and laser technologies for use in the entertainment, architectural/entertainment (architainment) and horticultural lighting industries.
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