Paradigm Updates on Outstanding Shares and Announces a Stock Buyback Program
October 16 2008 - 12:05PM
PR Newswire (US)
GEORGETOWN, Mass., Oct. 16 /PRNewswire-FirstCall/ -- Paradigm
Tactical Products Inc. (Pink Sheets: PDGT), a leading provider of
detection technology and homeland security solutions to the
military as well as to the corrections, law enforcement and
security industry updates shareholders on the company's current
outstanding share count and announces a stock buy back program.
Paradigm would like to report to its shareholders that there are
currently 839,680,555 outstanding shares, unchanged from our last
report. The company has made significant progress over the course
of the last year, and has reached certain milestones that have
prepared it for strong growth in early 2009. For many months
management has recognized that the company has been extremely
undervalued. Vincent Cammarata stated that at the time, we were
primarily focused on getting our new products developed and
manufacturing underway. At the same time we have always believed
that a share buyback program would not only benefit the company,
but also its shareholders. In September we voted to go forward with
the intended share buyback program and buy up to 200 million shares
of the company's stock commencing in January 2009, for a period of
4 months thereafter. It is our intent to purchase the stock in the
open market by using a portion of our profits from the sales of our
new products, the RadSafe, StealthSensor and others that are
scheduled to be added to our line in the near future. We believe
that the share buyback program is a positive move for everyone. We
are very confident that with the strong demand for our products,
along with our future anticipated sales, next year should be a
great year for the company and our shareholders. About Paradigm
Tactical Products Paradigm Tactical, based in Georgetown,
Massachusetts, is a leading provider of detection technology and
homeland security solutions to the military as well as corrections,
law enforcement and security industry. The Company owns rights to
license, manufacture, market, and sell all of its devices. As the
heightened attentiveness to terrorist and other security threats
continue to increase, Paradigm Tactical is meeting the higher
demand for security and inspection systems. The Company has sold
products to numerous Federal, State, and local institutions. For
more information go to: http://www.paradigmglobalproducts.com/ or
http://www.goldenboards.com/ Safe Harbor Statement from Paradigm
Tactical Products, Inc.: Statements in this press release
concerning the Company's business outlook or future economic
performance, anticipated profitability, revenues, expenses or other
financial items, and network or service offering growth, together
with other statements that are not historical facts, are
'forward-looking statements' as that term is defined under the
Federal Securities Laws. Any forward-looking statements are
estimates, reflecting the best judgment of the party making such
statements based upon currently available information and involve a
number of risks and uncertainties, including the timing of any
expansion of the Company's database, and other factors which could
cause actual results to differ materially from those stated in such
statements. Risks, uncertainties and factors which could affect the
accuracy of such forward-looking statements are identified in the
public filings made by the Company with the Securities and Exchange
Commission, and forward-looking statements contained in this press
release or in other public statements of the Company should be
considered in light of those factors. CONTACT: Paradigm Tactical
Products Vincent Cammarata, President and CEO Phone 978-702-9106
DATASOURCE: Paradigm Tactical Products Inc. CONTACT: Vincent
Cammarata, President and CEO of Paradigm Tactical Products,
+1-978-702-9106, Web Site: http://www.goldenboards.com/
http://www.paradigmglobalproducts.com/
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