Kentucky Energy, Inc. Announces Reverse Stock Split
February 02 2011 - 9:10AM
Kentucky Energy, Inc. (Pink Sheets:QMIND), a Kentucky-based
operator of energy and mineral related properties, today announced
that its board of directors has approved a 1-for-25 reverse stock
split of its currently outstanding shares of common stock. The
pre-split total shares of common stock outstanding was
1,849,248,210 and post-split total shares of common stock
outstanding will be 73,969,930 (subject to adjustment for
settlement of fractional shares, which will be rounded up to the
nearest whole share).
On January 31, 2011, we received notice from FINRA/OTC Corporate
Actions that the reverse stock split take effect at the open of
business on February 2, 2011. Our new symbol on this date will be
"QMIND.PK." The "D" on our symbol will be removed 20 business days
from February 2, 2011.
About Kentucky Energy
Kentucky Energy, Inc. acquires and operates energy and mineral
related properties in the southeastern part of the United States.
Our efforts are focused on properties that produce quality
compliance blend coal. For more information, please visit our
website at www.kentuckyenergyinc.com.
Forward-Looking Statements
This document contains discussion of items that may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Although the Company
believes the expectations reflected in such forward-looking
statements are based on reasonable assumptions, it can give no
assurances that its expectations will be achieved. Factors that
could cause actual results to differ from expectations include, but
are not limited to, lack of revenue producing operations, lack of
working capital, debt obligations, judgments and lien claims
against the Company and certain of its assets, difficulties in
refinancing short term debt, difficulties identifying and acquiring
complementary businesses, fluctuations in coal, oil & gas, and
other energy prices, general economic conditions in markets in
which the Company does business, extensive environmental and
workplace regulation by federal and state agencies, other general
risks related to its common stock, and other uncertainties and
business issues that are detailed in its filings with the
Securities and Exchange Commission.
Cautionary Note to U.S. Investors –The United States Securities
and Exchange Commission permits U.S. mining companies, in their
filings with the SEC, to disclose only those mineral deposits that
a company can economically and legally extract or produce. The
Company may use certain terms in this press release, or on its
website, such as "measured," "indicated," and "inferred"
"resources," which the SEC guidelines strictly prohibit U.S.
registered companies from including in their filings with the
SEC. U.S. Investors are urged to consider closely the
disclosure in the Company's Form 10-K which may be secured from the
Company, or from the SEC's website at
http://www.sec.gov/edgar.shtml.
CONTACT: Kentucky Energy, Inc.
Eugene Chiaramonte, Jr.
973-684-0035