EX-99.1 2 v183329_ex99-1.htm Unassociated Document

 
ZOO ENTERTAINMENT, INC. ANNOUNCES A
ONE-FOR-600 REVERSE STOCK SPLIT


Cincinnati – May 4, 2010:  Zoo Entertainment, Inc. (ZOOE.OB), a leading international publisher and developer of interactive entertainment software, today announced that its Board of Directors has approved a reverse stock split of its common stock at a ratio of one for 600 shares, to take effect on or about May 10, 2010. The company previously obtained stockholder approval for the reverse split.

 As a result of the reverse stock split, every 600 shares of the company's common stock will be combined into one share of common stock. Any fractional share resulting from the reverse stock split will be rounded up to the nearest whole number. The split will reduce the number of the company's outstanding shares of common stock from 2,778,409,829 to 4,630,741. The exercise price and the number of shares of common stock issuable under the company’s outstanding warrants and options will also be proportionately adjusted to reflect the reverse stock split.

Empire Stock Transfer, Inc. is the company’s transfer agent and will act as the exchange agent for the exchange of stock certificates in connection with the reverse split.

About Zoo Entertainment, Inc.:
Zoo Entertainment, Inc. is focused on licensing, developing, and publishing a wide variety of casual and family-friendly video games for Wii™, Nintendo DS™, Playstation®2 system, PSP (PlayStation®Portable) system, iPhone™, and PC through their wholly owned subsidiaries, Zoo Games, Inc. and Zoo Publishing, Inc.  It sells its products primarily to retail chains, video game rental outlets, specialty retail stores and domestic and international distributors. Zoo Entertainment, Inc. is based in Cincinnati, OH. The company was founded in 2007.


This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Zoo Entertainment, Inc. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of Zoo Entertainment, Inc.'s management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: general economic conditions; geopolitical events and regulatory changes; requirements or changes adversely affecting the businesses in which Zoo Entertainment is engaged; demand for the products and services that Zoo Entertainment provides, as well as other relevant risks detailed in Zoo Entertainment, Inc.'s filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Zoo Entertainment, Inc. assumes no obligation to update the information contained in this press release.

Investor Relations Contacts:

Financial Profiles, Inc.
Joseph Fitzgerald
Telephone: (310) 478-2700 x14
jfitzgerald@finprofiles.com
 
or
 
Tricia Ross
Telephone: (916) 939-7285
tross@finprofiles.com
 
 
 
 
 
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