Blackcraft Inc., a recently formed media company and lifestyle apparel brand, announced a 66.6-for-one forward stock split of its issued and outstanding common stock (the "forward split") subject to FINRA approval.
Based upon the company's expected growth rate over the next five years and using a discount rate of 11 percent, Blackcraft Cult expects an initial stock value of $3.00-5.00 per share. That figure reflects the 66.6 for-one forward stock split.
Blackcraft Cult's common stock will begin trading on a post-split adjusted basis on the OTC Bulletin Board.
"This day represents a huge milestone for our company," Co-Founder Robert "Bobby" Schubenski said. "We feel very strongly about the brand that we have built and the announcement of our forward split is the natural next step in the evolution of Blackcraft Cult as we continue our pursuit of becoming a brand that is recognized worldwide."
Since launching in July 2012, Blackcraft Cult has quickly grown from an in-demand apparel brand to an emerging and innovative technology company.
The company has plans to launch a messaging app called BCC Messenger in April, which will feature "emojis" and themes popular with Blackcraft Cult customers. Through an organic, grass roots approach, Blackcraft Cult's message and product suite have quickly gained acceptance and spread throughout the music, fashion and tattoo communities, gaining credibility and admiration across the globe. Blackcraft Cult has a band of staunchly loyal fans and a social media network encompassing over 15 million followers.
"Our brand may showcase dark imagery, but it's powered by a bright, positive message," said Co-Founder James "Jim" Somers. "We have always encouraged our followers to 'believe in yourself and create your own future' and feel that this announcement will give our loyal supporters an opportunity to become a part of the Blackcraft Cult family in a whole new way."
Shareholders holding common stock will not be required to take any action and each share of common stock outstanding prior to the effective time of the split will thereafter represent the number of shares of common stock, on an adjusted post-split basis, following the effective time of the split.
Shares of common stock held in brokerage accounts should also be credited with the split amount without further action. For more information, brokerage customers should contact their brokerage representative.
About Blackcraft Inc.
Blackcraft Inc., also known as Blackcraft Cult, is a rapidly growing media company and lifestyle apparel brand rooted in the ideal that self-realization is superior to religious indoctrination and other society enforced norms.