Provectus to Change its Name and Reincorporate in DelawareThese moves will have two important effects: 1] The name change will require all shorts to cover before they can short again. 2] Delaware is a much more respectable state to be from than Nevada.
This suggests that PVCT is making the final moves to sell itself.
PVCT PR
Provectus to Hold Special Meeting of Stockholders December 16, 2013, in Knoxville, Tennessee
Tuesday November 5, 2013
Provectus Pharmaceuticals to Change Name to Provectus Biopharmaceuticals, Inc., Reincorporate in Delaware
KNOXVILLE, Tenn.--(BUSINESS WIRE)--Provectus Pharmaceuticals, Inc. (OTCQB: PVCT, https://www.pvct.com), a development-stage oncology and dermatology biopharmaceutical company, will hold a special meeting of stockholders to vote on the change of the company's name to Provectus Biopharmaceuticals, Inc. and reincorporation of the Company in the State of Delaware from the State of Nevada. The special meeting of stockholders will be held on December 16, 2013 at 4:00 pm EST at the law offices of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC, which is located at 265 Brookview Centre Way, Suite 600, Knoxville, Tennessee 37819.
Dr. Craig Dees, PhD, CEO of Provectus, said, "We believe that these two proposals demonstrate our commitment to protecting our shareholders' interests and communicating with the markets about our business and our plans for the future.
"Changing our name to 'Provectus Biopharmaceuticals, Inc.' will better communicate to the public the current and future nature of our business operations and enable us to better implement our business plan. The new name, if approved, would not affect our business, operations, reporting requirements or stock price but will require a new CUSIP.
"Reincorporation in Delaware will give us more flexibility, clarity and predictability with respect to our corporate governance. The corporate laws in Delaware are more comprehensive, widely-used and extensively interpreted than those of other states, including Nevada. In addition, Delaware provides a recognized body of corporate law that is consistently interpreted by Delaware courts, which we believe will facilitate corporate governance by our officers and directors."