San Jose, CA -- November 06, 2018 -- InvestorsHub NewsWire
-- Sonasoft Corp. (OTCQB: SSFT), a leader in
eDiscovery, data archiving, and data migration solutions, is
pleased to announce that it has completed a ‘share rollup’ that
converts over 178,500,000 shares of its common stock into preferred
shares. This action reduces the outstanding share count by
approximately 48 percent and leaves the remaining outstanding
common share count at approximately 181,500,000.
This initiative was originally announced in February 2018 as
part of the Company’s ‘2018 Growth Strategy,’ which included this
‘Preferred Stock Initiative,’ as well as completing a two-year
audit, uplisting to the OTCQB, and completing the acquisition of
Cornerstone Technologies. The Company has now completed all
these initiatives as planned.
Initially, the Company intended to reduce the outstanding share
count by approximately 25 percent. However, that number
increased significantly as a majority of large shareholders decided
to take a long-term view of their investment as the Company
continues to rapidly expand.
“This roll-up will tighten the float of tradable shares, add
investment stability, and assure investors that many of the large
stakeholders are taking a long-term view,” stated Andy Khanna, CEO
of Sonasoft. “Sonasoft is confident that this initiative will
attract large institutional investors to infuse capital that will
fuel future growth and strategic acquisitions. The rapid growth of
2018 is just the beginning. Investors can expect much more moving
forward."
The share structure was updated on OTC Markets as of October 31,
2018, and can be viewed here:
https://www.otcmarkets.com/stock/SSFT/profile
The Company continues to press forward with its product and
professional services offerings in data archiving, eDiscovery, and
the development and integration of artificial intelligence (AI)
solutions. Sonasoft remains focused on high-growth initiatives to
expand operations and deliver maximum value back to
shareholders.
Further updates from the Company and its wholly-owned
subsidiary, Cornerstone Technologies, can be expected in the coming
weeks.
For a no-cost consultation and to learn more about the power of
SonaVault 6.1 E-Discovery and Email Archiving Solution, visit us
here:
https://www.sonasoft.com/products/sonavault-email-archiving-software/
To obtain the latest company updates in between press releases,
please follow us on Twitter @Sonasoft or visit us here:
https://twitter.com/Sonasoft
About Sonasoft
Sonasoft Corporation is a publicly traded corporation and is
listed on the OTCQB Markets under the trading symbol SSFT
(OTCQB:SSFT). Sonasoft is now an AI-first company. The Company
intends to integrate artificial intelligence (AI) into the
Company’s core business model, which includes enterprise-class
archiving, e-discovery, and business continuity software solutions
for Microsoft Business Applications on Microsoft Windows platforms.
Sonasoft’s signature products for e-discovery tools, which include
SonaVault 6.1 Email Archiving and E-Discovery Software, as well as
SonaVault Email Archiving Appliances, deliver affordable
enterprise-level functionality that exceeds compliance and
ease-of-use requirements of large 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 e-discovery
solutions have hundreds of deployments with an exceptionally high
degree of customer satisfaction. Founded in 2003, the Company is
headquartered in San Jose, California.
About Cornerstone Technologies
Based in the heart of Silicon Valley, Cornerstone Technologies,
a wholly-owned subsidiary of Sonasoft Corp., is a leading provider
of engineering services focused on messaging migrations, identity
access management, the modern data center, and managed services
solutions, Cornerstone Technologies plays a pivotal role in the
transformation of their clients' IT environments. Cornerstone
Technologies is a key partner to Microsoft, Dell/EMC, VMware, and
TransVault, and the Company has built an impressive customer list
across multiple verticals, which include retail, high tech,
healthcare, public transportation, and financial services.
For further information about Cornerstone Technologies, please
visit:
https://cornerstonetechnologies.com/
For more information about Sonasoft’s email archiving solutions
and business continuity software, contact:
Mike Khanna
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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