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SOURCE Profile Solutions, Inc. (Formerly YaFarm Technologies, Inc.)
FORT LAUDERDALE, Fla., July 30, 2014 /PRNewswire/ -- Integrative Stem Cell Holdings, Inc., a corporation formerly known as YaFarm Technologies, Inc. (OTC: YFRM) (OTC Pink: YFRM), announced today that it has filed an Amended and Restated Certificate of Incorporation with the Secretary of State of Delaware which changes the company's name to "Profile Solutions, Inc." and effects a 1:10 reverse stock split of its outstanding common stock, among other actions. The effective date of the name change and split will be July 31, 2014. Our new CUSIP number for our common stock will be 74317L106. Our common stock will be quoted under the symbol "YFRMD" for 20 business days and then it will change to our new stock symbol of "PSIQ." These actions were taken following the recent acquisition of Profile Solutions, Inc., a Florida corporation, by Integrative Stem Cell Holdings. This transaction, which closed in May 2014, resulted in a change of control of our company and was treated as a reverse merger for accounting purposes. Our business and operations are now those of Profile Solutions. At closing, Mr. Dore Scott Perler was appointed our sole director and elected our Chief Executive Officer. Mr. Perler is also the majority stockholder of our company.
"It is exciting to begin this new chapter in our evolution with our company name now in place, the stock split completed, and our requested stock symbol approved," stated Dore Scott Perler. CEO, Profile Solutions, Inc. "The name and symbol change allows the company to brand our corporate image and the stock split offers a new and exciting opportunity to the investing public.""
As a result of the reverse stock split, each 10 shares of our common stock issued and outstanding, or held as treasury shares, immediately prior to the effective date of the reverse stock split will become one share of our common stock on the effective date of the reverse stock split. No fractional shares of common stock will be issued to any stockholder in connection with the reverse stock split and all fractional shares which might otherwise be issuable as a result of the reverse stock split will be rounded up to the nearest whole share. After the effective date of the reverse stock split, each certificate representing shares of pre-reverse stock split common stock will be deemed to represent one-tenth of a share of our post-reverse stock split common stock, subject to rounding for fractional shares, and the records of our transfer agent, Action Stock Transfer Corporation, will be adjusted to give effect to the reverse stock split. Following the effective date of the reverse stock split, the share certificates representing the pre-reverse stock split common stock in our former name will continue to be valid for the appropriate number of shares of post-reverse stock split common stock, adjusted for rounding. Certificates representing shares of the post-reverse stock split will be issued in due course as certificates for pre-reverse stock split common shares are tendered for exchange or transfer to our transfer agent. We request that stockholders do not send in any of their stock certificates at this time.
About Profile Solutions
Profile Solutions, Inc. (PSI) designs, manufactures and sells security-based identification products and systems that incorporate state-of-the-art security technology to verify a person's identity, or grant physical access. PSI has developed turnkey integrated applications that incorporate our proprietary Access-It hardware platform. We also integrate our applications with biometric technology for additional security when required. PSI targets the law enforcement, cannabis industry and corporate America as our customer base. Please visit the company website at www.ProfileSolutionsInc.com or www.facebook.com/ProfileSolutionsInc.
Safe Harbor Statement
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
For information, please contact:
Dore Scott Perler
Profile Solutions, Inc.
5722 S. Flamingo Road #211
Ft. Lauderdale, FL 33330
Telephone: (954) 232-5363
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