MAM Software Group, Inc. (OTC:MAMSD), a software, information, and related services company in the automotive aftermarket sector, has effected a decrease of its issued and outstanding common stock, in the form of a reverse stock-split, on a one-for-100 (1:100) basis, followed immediately by a forward stock-split, on a ten-for-one (10:1) basis, as of the opening of trading on March 25, 2011. Shares of MAM Software closed yesterday at $0.15 per share and average very little volume per day. The company has a market cap of $21 million.Holders of less than one share after the reverse split will be paid cash in exchange for their fractional shares. One whole share will be issued in place of each fractional share that results from the forward split.
To reflect the reverse stock split, the Company's stock symbol was appended with the fifth character "D" and will be quoted under the symbol "MAMSD" until approximately April 22, 2011. During that time, the Company's Common Stock will continue to be quoted on Over-The-Counter Bulletin Board. After this period, the symbol will revert to "MAMS."
MAM Software Group is a supplier of business and ERP supply chain management solutions to automotive parts manufacturers, distributors and retailers. MAM Software Group provides the automotive aftermarket with a combination of business management systems, information products, and online services that together deliver benefits for all parties involved in the timely repair of a vehicle.
For further information, please visit http://www.mamsoftwaregroup.com/.
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