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Imaging3 board approves 1-20 reverse stock split

Imaging3 Inc. said its board approved a 1-for-20 reverse stock split of its current outstanding common shares.

The Burbank, Calif.-based company said its pre-split common shares totaling 319,093,077 would be converted into 15,954,907 common shares after the split.

Imaging3 said it received a notice from the Financial Industry Regulatory Authority saying the split will take effect at the open of business March 16.