Sonasoft Provides Overview of Corporate Share Structure and Public Float
June 13 2018 - 8:31AM
InvestorsHub NewsWire
San Jose, California -- June 13, 2018 -- InvestorsHub NewsWire
-- Sonasoft Corp. (OTCPK: SSFT), a leader in innovative
eDiscovery solutions and business continuity services, is pleased
to provide shareholders and the investment community with an
estimated overview of its corporate share structure, public float,
and forward-looking outlook.
Sonasoft remains steadfast in its efforts to provide investors
with enhanced transparency and insight into the Company’s
operations, corporate structure, and earnings targets. As
part of the Company’s growth strategy, the Company is set to
execute an aggressive expansion to significantly increase
shareholder value.
As of June 12, 2018, SSFT has an approximate total of 338.7
million shares of common stock outstanding. About 251.4 million
shares are restricted shares under Rule 144, and around 87.3
million shares are non-restricted. Of the total non-restricted
common shares, approximately 44.7 million shares are held in
certificate form. The remaining 42.6 million shares are held by the
public in brokerage accounts, commonly known as the
“float”.
The Company conservatively estimates that nearly two-thirds of
the shares in the float are also held by insiders, employees,
friends/family, and/or long-term stakeholders. Therefore, the
majority of the outstanding share count AND the public float is
locked up by insider restrictions, restricted shares, or being held
firmly by long-term shareholders. The Company further
estimates that the remaining public float remains tight at
approximately 13 million shares.
The corporate share structure will remain stable as the Company
continues to execute strategies to increase shareholder value in
the near and long-term future. This includes raising capital
exclusively from friendly sources, a method designed and proven to
protect the Company and its shareholders from dilutive
financing.
“We have been fortunate to have large long-term shareholders
finance much of our recent endeavors on favorable terms. This will
allow the Company to expand rapidly, and most important, in a
sustainable way,” stated Mike Khanna of Sonasoft.
Additionally, the Company previously announced its intent to
complete a “share rollup”, which will convert common shares into
preferred stock. This initiative will reduce the outstanding
share count by up to 25 percent, and it is expected to occur
shortly after the Company audit and subsequent uplist to OTCQB is
completed.
The Company continues to make significant strides in terms of
executing on its expansion strategies. A number of updates can be
expected over the coming weeks.
The Company will be releasing more regular and general updates
via Twitter. Please follow us @Sonasoft or by visiting here:
https://twitter.com/Sonasoft
For further information on Sonasoft and its products and
services, please visit:
https://www.sonasoft.com
About Sonasoft
Sonasoft Corporation is a publicly traded corporation and is
listed on the OTC Markets under the trading symbol SSFT. Sonasoft’s
core business model includes enterprise-class email archiving,
eDiscovery, and business continuity software solutions for
Microsoft Business Applications on Microsoft Windows platforms.
Sonasoft’s signature products for eDiscovery tools, which include
SonaVault 5.0 Email Archiving and eDiscovery Software, as well as
SonaVault Email Archiving Appliances, deliver affordable
enterprise-level functionality that exceeds compliance and
ease-of-use requirements of small and medium-sized businesses,
governments, school districts, organizations, and
enterprises. The Company also launched SonaSecure, which
protects systems from ransomware and other email-based threats as
well as provides email continuity services. In addition,
Sonasoft offers data export and migration services for competing
email archiving solutions. Sonasoft email archiving and eDiscovery
solutions have hundreds of deployments with an exceptionally high
degree of customer satisfaction. Founded in 2003, the Company is
headquartered in San Jose, California.
For more information about Sonasoft’s email archiving solutions
and business continuity software, contact:
Mike Khanna, President
Sonasoft Corporation
Phone: (408) 708-4000
Source: https://www.sonasoft.com
Forward-looking Statements
This release contains statements that constitute forward-looking
statements. These statements appear in a number of places in this
release and include all statements that are not statements of
historical fact regarding the intent, belief or current
expectations of the Company, its directors or its officers with
respect to, among other things: (i) the Company’s financing plans;
(ii) trends affecting the Company’s financial condition or results
of operations; (iii) the Company’s growth strategy and operating
strategy; and (iv) the declaration and payment of dividends. The
words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,”
“believe,” “intend,” and similar expressions and variations thereof
are intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond the Company’s ability to
control, and that actual results may differ materially from those
projected in the forward-looking statements as a result of various
factors.
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