Pacific Gold Corp. (OTCQB:PCFG), which operates Pilot Mountain Resources Inc., which owns a large tungsten based deposit in Nevada, announced that effective January 22, 2013, every 20 shares issued by the Company and outstanding Common Stock, par value $0.0000000001, will convert into one share of Common Stock.
As quoted in the press release:
Any fractional shares resulting from the Reverse Stock Split will be rounded up to the next whole share. As a result of the Reverse Stock Split, the total number of issued and outstanding shares of the Company’s Common Stock will decrease from 3,867,674,530 pre-split shares to approximately 193,383,727 shares after giving effect to the Reverse Stock Split.
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