Income Now Consulting Announces Name Change to ACM Corporation (OTC Markets: ACMA) and 18.66-for-1 Forward Stock Split
LAS VEGAS, March 21, 2012 /PRNewswire/ -- Income Now Consulting (OTC Markets: INCN) (the "Company"), is pleased to announce that it has changed its name to ACM Corporation and declared an 18.66-for-1 forward stock split on its common stock, in the form of a dividend.
We are currently engaged in discussions with ACM Corporation, a Bahamas corporation ("ACM"), regarding a possible business combination involving the two companies. At this stage, no definitive terms have been agreed to, and neither party is currently bound to proceed with any transaction. With the permission of ACM, we have changed our name to facilitate these discussions. If the parties determine not to proceed with a business combination, we will change our name back to Income Now Consulting or adopt another name.
The Company's new name became effective with the State of Nevada on March 13, 2012, and it will be declared effective by FINRA, for OTC trading purposes, on March 30, 2012. The name change will be accompanied by a new trading symbol, "ACMA."
The Board of Directors of the Company has also declared an 18.66-for-1 forward stock split on the Company's common stock in the form of a dividend, with a record date of March 9, 2012, a payment date of March 22, 2012, an ex-dividend date of March 23, 2012, and a due bill redeemable date of March 27, 2012. The stock split will entitle each shareholder as of the record date to receive 17.66 additional shares of common stock for each one share owned. Additional shares issued as a result of the stock split will be distributed on the payment date. Shareholders do not need to exchange existing stock certificates and will receive a new certificate reflecting the newly issued shares.
Shareholders who sell their stock before the ex-dividend date are selling away their right to the stock dividend. Such sale will include an obligation to deliver any shares acquired as a result of the dividend to the buyer of the shares, since the seller will receive an I.O.U. or "due bill" from his or her broker for the additional shares. The day stockholders can sell their shares without being obligated to deliver the additional dividend shares is the ex-dividend date, the first business day after the stock dividend payment date. As of the ex-dividend date, the Company's common stock will trade on a post-split adjusted basis.
About Income Now Consulting
The Company was established to develop and market a user-friendly interactive web-based fundraising program for everyone who requires fundraising, particularly non-profit organizations, schools, and clubs. The program would allow our clients to identify their fundraising needs, offer suggestions and links to fundraising products, and offer an option to track their customers for future and more targeted fundraising efforts via our web-based database management program. The web-based program would provide the services of a consultant while providing an option to track customers via the database.
About ACM Corporation (Bahamas)
ACM Corporation, incorporated in the Bahamas, is a junior mining enterprise with a focus on West Africa. ACM has one producing manganese mine in Burkina Faso, and one manganese mine in development in Mali, which is anticipated to begin production in the second quarter of 2012. Manganese is essential to steel production, which is its primary use; it is also used in aluminum alloys and other industrial applications. ACM's global headquarters is located in the United States in Boston, Massachusetts, with West African regional offices in Ouagadougou, Burkina Faso, and Bamako, Mali.
Certain statements in this press release are forward looking. These statements are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. In particular, there can be no assurance that any business combination involving the Company and ACM will be consummated. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.
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