Exit Only, Inc. Retires 1.2 Billion Shares of Common Stock in Preparation for Acquisition; Outstanding Shares Reduced by Nearly
March 28 2011 - 9:45AM
Marketwired
Exit Only, Inc. (PINKSHEETS: EXTO) today announced that its
President Diana Shats retired 1.2 billion shares of common stock
that she owned in the Company in order to increase shareholder
value and to facilitate acquisitions that management has been
negotiating. Diana Shats commented, "My goal since my management
team assumed the helm at the Company is driven by a unified mandate
to increase shareholder value. Toward that end, we have started a
new subsidiary entitled Shats Lighting Solutions to house the
technology and patents recently acquired. Furthermore, we
recognized that the capital structure needed to be refined to
accommodate the Company's progressive acquisition strategy in a
manner that did not involve any kind of reverse stock split.
Accordingly, I decided to retire 1.2 billion shares of my personal
stock for the benefit of shareholders."
The retirement of the shares was reflected on the books and
records of the Company as of March 24, 2011. No other warrants,
rights, options or convertible instruments were issued in
connection with the retirement of shares. The only other corporate
change was the implementation of an anti-takeover strategy which
increased the voting power of the Series A Preferred Shares to 1000
times voting power. The shares still convert on a 1:1 basis to
common which would only create an addition 2 million shares of
common stock, when and if converted. The increased voting power
maintains management's control over the Company despite being
reduced in actual ownership. The board accepted the retirement of
shares in order to position the Company for a number of
acquisitions that can strengthen the Company and shareholder value.
The Company presently has just under 541 million shares of common
stock outstanding, with 479 million shares in the float.
About Shats International Holdings,
Inc.
Shats International Holdings, Inc. business model is centered
around an array of subsidiary acquisitions with its primary focus
identify strategic growth companies, intellectual properties, and
assets within the US and abroad that will bring significantly
enhanced valuation to its shareholders through a vast and diverse
field of industries. Additional information will be available
shortly at both Pinksheets.com and the Company's website.
http://www.shatsholdings.com/
Cautionary Note Regarding Forward Looking
Statements
This press release and the statements of representatives of Exit
Only, Inc. (the "Company") related thereto contain, or may contain,
among other things, "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical fact included
herein are "forward-looking statements," including any other
statements of non-historical information. These forward-looking
statements are subject to significant known and unknown risks and
uncertainties and are often identified by the use of
forward-looking terminology such as "guidance," "projects," "may,"
"could," "would," "should," "believes," "expects," "anticipates,"
"estimates," "intends," "plans," "ultimately" or similar
expressions. All forward-looking statements involve material
assumptions, risks and uncertainties, and the expectations
contained in such statements may prove to be incorrect. Investors
should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
The Company's actual results (including, without limitation, SIH's
ability to advance its business, generate revenue and profit and
operate as a public company) could differ materially from those
stated or anticipated in these forward-looking statements as a
result of a variety of factors, including factors and risks
discussed in the periodic reports that the Company files with OTC
Markets (Pinksheets). All forward-looking statements attributable
to the Company or persons acting on its behalf are expressly
qualified in their entirety by these factors. The Company
undertakes no duty to update these forward-looking statements
except as required by law.
CONTACT: Investor Relations Briggs Smith 813-438-5225 Email
Contact Shats International Holdings, Inc. 800-406-7906 Email
Contact
Bayport (PK) (USOTC:BAYP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Bayport (PK) (USOTC:BAYP)
Historical Stock Chart
From Apr 2023 to Apr 2024