New Motion completes reverse stock split

New Motion Inc. completed its reverse stock split and adopted a new ticker symbol.
The mobile entertainment company put the wraps on a 1-for-300 reverse split of common stock and converted all other classes of stock into common stock. Shares of the company began trading Thursday on the Nasdaq Over the Counter Bulletin Board under the symbol “NWMO.”
New Motion powers a mobile entertainment portal, a ringtone storefront and a low-bid auction site, among other offerings. The Irvine, Calif.-based firm also distributes mobile content for TNA Wrestling.