According to what was announced last Wednesday, the name change and the reverse stock split of AL International Inc (PINK:JCOFD), formerly known as Javalution Coffee Corp, have already become effective.
A press release on OTC Markets indicates that these corporate actions became effective on Aug 5th, but apparently the stock split is still not officially represented by the OTC Markets.
In this regard, yesterday another announcement was made in order to put some light on the matter. The company said that it had met DTC eligibility and on the next day DTC would announce the terms of the stock split. On Monday, JCOFD shares will be allocated from the old CUSIP number to a new one.
In the last five sessions, there was a considerable decline in the trading volume of the stock. The number of shares that were turned over during the session barely reached half of the daily average.[BANNER]
This probably means that investors are waiting for the stock split to get officially reported in the OTC markets quote system before they make any further important action. Meanwhile, JCOFD stock value has plummeted by nearly 50%.
Last week, JCOFD was unable to maintain the support at $0.8, and on Friday it broke sharply below the support line. The decline continued this week as well. Only yesterday did JCOF find some strength to rise 16% to $0.49.
Apparently, the time for investors to carefully review their investment in JCOFD has come. The reaction of the market after the stock split becomes reported on the official quotes will be indicative of JCFOD near term future.
