other material
confidence high
sentiment negative
materiality 0.50
Volcon disputes DTCC request for 188,950 shares after reverse split; may face liability
Empery Digital Inc.
- On Nov 8, 2024, Volcon completed a 1-for-8 reverse stock split of common stock.
- On Nov 19, 2024, DTCC requested 188,950 additional shares for fractional rounding.
- Volcon believes the request is incorrect based on historical shareholder count and is investigating.
- Company does not intend to issue the shares pending completion of its inquiry.
- Volcon acknowledges potential liability if it is later determined issuance was required.