DAVC (OTC:DAVC) has changed its mind on an important issue.
The New York-based announced today, following its recent merger agreement with Samsara Luggage that its board of directors has decided to increase its authorized capital offered to the public and not to conduct reverse common stock split.
Samsara CEO Atara Dzikowski and DAVC CEO Abraham Bengio, issued a joint statement saying that instead, "We plan to focus on leveraging Samsara smart travel tech to increase revenues and profitability and to enhance value for all our shareholders.
"We plan to take full advantage of tapping into the fast growing smart travel industry out there, estimated at billions of dollars, and turn into tangible business all the opportunities made possible by our recent spin off into the smart travel tech industry."
DAVC moved through Thursday afternoon up 54-100ths of a cent, or 84.4%, to 1.18 cents, on volume nearing 35 million shares.
