KMA Global Solutions International Inc. Completes Spin-Offs of Its Subsidiaries, Settles Debt
December 08 2011 - 8:30AM
Marketwired
KMA Global Solutions International, Inc. (PINKSHEETS:KMAG) KMA
Global Solutions International Inc. is pleased to announce the
completion of its spin-offs of its 3 subsidiaries. All Stockholders
of record as of February 21, 2011 will receive equal shares of the
KMA Global Solutions International Inc. (KMAG) holdings and shares
of the subsidiaries KMA Global Solutions HK Ltd., KMA Global
Solutions USA Inc. and KMA Global Solutions Inc. (Canada).
All subsidiaries shares are restricted as all companies at this
time are non-reporting and non-trading. Each subsidiary will make
announcements as plans are finalized.
By spinning off the subsidiaries the debt in KMA Global
Solutions International Inc. is reduced by $811,000. Furthermore
the balance of the debt $376,000 owing to the CEO has been agreed
to be converted to Preferred Shares of KMA Global Solutions
International Inc., which have not been issued yet.
Jeffrey D Reid CEO of KMA Global Solutions International Inc.
commented "With a clear focus on the future and without the burden
of Debt KMA Global Solutions International Inc. is able to take
advantage of long term strategic relationships that will vastly
increase our opportunities."
About KMA Global Solutions International, Inc.
KMA Global Solutions International, Inc. is a leading worldwide
manufacturer and supplier of Electronic Article Surveillance (EAS)
labels for the multimedia, retail apparel, health/beauty aids, soft
goods, and over-the-counter pharmaceutical industries. KMA provides
low cost solutions for retail protection against inventory theft,
offering customized labels that use a variety of patented formats
to meet unique packaging needs. KMA's patent pending DUAL Tag(TM)
is the only product available that combines the two leading EAS
technologies in a single, high speed application to eliminate the
need for multiple inventories and its patented NEXTag(TM) is the
solution of choice for soft goods as a small, flexible non-woven
label conveniently sewn into a garment at its manufacturing
source.
At KMA, our Business Mission is to constantly reinforce our
industry leadership as a preferred competitive supplier in the
timely delivery of superior, cost effective, source tagging
products - all the time, every time.
For more information about KMA Global Solutions International,
visit: http://www.kmaglobalsolutions.com
Forward-Looking Statement
Statements included in this press release which are not
historical in nature, are intended to be, and are hereby identified
as "Forward Looking Statements" for purposes of safe harbor
provided by Section 21E of the Securities Exchange Act of 1934, as
amended. Forward Looking Statements may be identified by words
including "anticipate", "await", "envision", "foresee", "aim at",
"believe", "intends", "estimates" including without limitation,
those relating to the company's future business prospects, are
subject to certain risks and uncertainties that could cause actual
results to differ materially from those indicated in the Forward
Looking Statements. Readers are directed to the company's filings
with the U.S. Securities and Exchange Commission for additional
information and a presentation of the risks and uncertainties that
may affect the company's business and results of operations.
Contacts: KMA Global Solutions International, Inc. Investor
Relations
Contactinvestorrelations@kmaglobalsolutions.comwww.kmaglobalsolutions.com
KMA Global Solutions (CE) (USOTC:KMAG)
Historical Stock Chart
From May 2024 to Jun 2024
KMA Global Solutions (CE) (USOTC:KMAG)
Historical Stock Chart
From Jun 2023 to Jun 2024