Cache Elite, INC. (OTCPK: ILUS) announced that the company will be reducing company's authorized share count by 50,000,00
November 06 2017 - 9:32AM
InvestorsHub NewsWire
Cache Elite, INC. (OTCPK:
ILUS) announced today that the company will be reducing the
company's authorized share count by 50,000,00 shares.
Cache Elite, INC. -- 6 November, 2017 -- InvestorsHub NewsWire --
CEO Derrick McWilliams stated, "We currently have 550,000,00 shares
authorized with over 360,000,000 shares currently restricted and
29,357,831 in the float. With an already solid share structure, we
believe this move will show our mission in increasing Company
revenues and, thus protecting shareholder value. We expect to have
this finalized by the end of current quarter. We believe we are
beginning to see the fruits of our labors with wwwtripwitz.com
based on the results; we feel confident by the second quarter of
2018 we expect existing profits to fund an upcoming expansion. That
being the case, we are reducing our authorized share count to an
even 500,000,000 shares. At that time, we will look at a further
reduction in the authorized number or other shareholder increase
maneuvers."
Safe Harbor Statement: This news release contains
forward-looking statements as defined by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include
statements concerning plans, objectives, goals, strategies, future
events or performance, and underlying assumptions and other
statements that are other than statements of historical facts.
These statements are subject to uncertainties and risks including,
but not limited to, product and service demand and acceptance,
changes in technology, economic conditions, the impact of
competition and pricing, government regulation, and other risks
described in statements filed from time to time with the Securities
and Exchange Commission. All such forward-looking statements
whether written or oral, and whether made by or on behalf of the
Company, are expressly qualified by the cautionary statements that
may accompany the forward-looking statements. In addition, the
Company disclaims any obligation to update any forward-looking
statements to reflect events or circumstances after the date
hereof.
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