SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported): May 4, 2020
CARDIFF LEXINGTON CORPORATION
|(State or other jurisdiction of incorporation)||(State or other jurisdiction of incorporation)||(IRS Employer Identification No.)|
401 E. Las Olas Blvd. Suite 1400
Ft. Lauderdale, FL 33301
(Address of principal executive offices, including zip code)
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
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Securities registered pursuant to Section 12(b) of the Act:
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Emerging growth company ☐
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SECTION 7. REGULATION FD
ITEM 7.01 REGULATION FD DISCLOSURE
Reverse Stock Split:
On May 4, 2020, the Board of Directors of Cardiff Lexington Corporation, a Florida corporation (the “Corporation”) upon filing Articles of Domestication with the state of Florida on May 4, 2020 the Board authorized and approved a reverse stock split of one for ten thousand (1:10.000) of the Corporation's total issued and outstanding shares of common stock (the “Stock Split”). The Board of Directors considered further factors regarding approval of the Stock Split including, but not limited to: (i) current trading price of the Corporation’s shares of common stock on the OTC Market and potential to increase the marketability and liquidity of the Corporation’s common stock; (ii) possible reluctance of brokerage firms and institutional investors to recommend lower-priced stocks to their clients or to hold in their own portfolios; (iii) desire to meet future requirements of per-share price and net tangible assets and shareholders’ equity relating to admission for trading on other exchanges; and (iv) posturing the Corporation and its structure in favorable position in order to effectively negotiate with potential acquisition candidates. The ticker symbol shall have a “D” placed on our symbol (CDIXD) for twenty business days from the effective date of May 4, 2020, of the Stock Split. After twenty business days has passed, the Corporation's trading symbol will revert back to "CDIX".
The Stock Split was effectuated on April 30, 2020 upon filing the appropriate documentation with FINRA. The Stock Split decreased the Corporation's total issued and outstanding shares of common stock from 1,571,586,971 to 157,158 shares of common stock. The common stock remained at $0.001 par value.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|Cardiff Lexington Corporation|
|By:||/s/ Daniel Thompson|
Dated: May 4, 2020