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Article: Forward Industries, Inc. Announces 1 For 2 Reverse Stock Split - Completes Accounting For Brooklyn Real Estate And Ad Specialty Sales.
- Article from:
- Business Wire
- Article date:
- December 29, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WEST HEMPSTEAD, N.Y.--(BUSINESS WIRE)--DECEMBER 29, 1997--FORWARD INDUSTRIES, INC. (NASDAQ: FORDD) announced today that a one share for two shares reverse stock split approved by shareholders on August 7, 1997 was implemented December 24, 1997.
Previously, FORWARD had announced the completion of the sale of its factory building located at 106-24 Avenue D, Brooklyn, New York for a cash amount of $830,000. The Company announced that it expects to report a gain of approximately $500,000 from this transaction. The gain will be included in results reported for the first fiscal quarter of the 1998 fiscal year.
The Company announced it will report an ...