Converted Organics Announces Decision to Forego Reverse Stock Split

Converted Organics Inc. COIN announced today that it has decided not to effect the 1-for-10 reverse split of the Company's stock that had been approved by the Company's Board of Directors on June 13, 2011. Market conditions indicated to the Company that the reverse split is not beneficial to the shareholders at this time. "We contemplated the reverse split to maintain our NASDAQ listing. Current market conditions indicated the reverse split is not in the best interest of our shareholders," said Edward J. Gildea, President and CEO of Converted Organics. "We understand that not effecting the reverse split means our shares may be delisted from NASDAQ, but we believe our shares will be traded on the Over the Counter Bulletin Board (OTCBB)."