Honolulu-based biopharmaceutical company Cardax Inc., which produces the anti-inflammatory product ZanthoSyn, declared Tuesday a 200-for-1 reverse stock split that will be effective today.
Cardax’s stock finished the day down $.005 at 4.75 cents. The reverse split will boost the company’s stock price to $9.50. However, the reverse split doesn’t change the value of an investor’s holdings. It just means that a shareholder will receive one share for every 200 shares owned. Or in other words, 200 shares worth 4.75 cents apiece will be converted to one share at $9.50.
Cardax’s stock trades under the ticker symbol CDXI on the OTCQB, which consists of early-stage and developing U.S. and international companies. Cardax’s shares fell 74.6% in 2019 after hitting a 52-week high of 22 cents. Its share are down 6.4% so far this year.
ON THE MOVE
>> Outlets of Maui has announced the appointment of Kym Espinosa as marketing director. Espinosa has more than 25 years of experience in marketing. Most recently she served eight years as director of marketing at Promenade Temecula at Temecula, Calif. She also receive the International Council of Shopping Center MAXI award eight times as well as held positions at Time Warner Media, Puente Hills Mall in Los Angeles, Eastridge Mall in San Jose, Calif., and Ervin Advertising and Design.
>> Waimea Plantation Cottages has hired Janice Ishihara as its new senior manager of sales and marketing. Ishihara most recently worked for Kahala Hotel & Resort in Oahu as account director of group sales. She has over 20 years of experience in the Hawaii hospitality industry including sales, marketing, reservations and operations. She also worked as director of sales at Kauai Beach Resort and held sales and marketing positions at the Turtle Beach Resort, Princeville Resort and Hyatt Regency Maui.