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Naples Soap Company (OTCQB: NASOD) has announced a 700-to-1 reverse stock split, effective October 4, 2024. This strategic move aligns with the company's long-term restructuring goals. The stock symbol will temporarily change to NASOD before reverting to NASO after 20 days.
CEO Deanna Wallin emphasized that this decision was made to support shareholders' long-term interests and position the company for future growth. Naples Soap Company has been achieving significant milestones, including:
- National expansion of its wholesale business
- Upgrading to Shopify for POS and Ecommerce
- Developing new product lines using NASA-engineered 3D botanical stem cell technology
The company remains committed to delivering value to customers and shareholders while pursuing leadership in the natural skincare industry.
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