Item 8.01 Other Events.
As of February 7, 2023, Focus Universal Inc. (the "Company") approved a fifty
percent (50%) stock dividend of the Company's common stock. The Company will
issue one share of common stock for every two shares of common stock held.
The record date for the stock dividend will be February 23, 2023, and the
payment date will be March 23, 2023. The Company's common stock shares will be
traded in accordance with the "due bill" procedures of NASDAQ from February 7,
2023 through March 2, 2023. This means any trades that are executed on the
NASDAQ Stock Exchange during this period will be identified to ensure purchasers
of the Company's common stock receive the entitlement to the stock dividend. The
Company's common stock shares are expected to begin trading on a post-stock
dividend basis on the NASDAQ Stock Exchange on March 23, 2023.
As of February 7, 2023 there were 43,130,915 shares of the Company's common
stock outstanding. Once the stock dividend is issued, there will be 64,696,373
shares of the Company's common stock outstanding.
Safe Harbor Statement
There is no guarantee that the Company's Board will authorize, or that the
Company will declare, additional dividends in the future, and the amount of
future dividends, if any, and the authorization and payment thereof, will be
determined by the Board based on the Company's financial condition and such
other factors as the Board deems relevant. The Company's operating performance
and the timing and amount of future dividends is subject to risks and
uncertainties as described under "Risk Factors" in the Company's Annual Report
on Form 10-K for the year ended December 31, 2021.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
99.1 Press Release dated February 7, 2023
104 Cover Page Interactive Data File (embedded within the inline XBRL
document)
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