Restructuring of Public Companies Continues with
Return of Common Stock To Company Treasury
LAS VEGAS, NV -- March 23, 2017 -- InvestorsHub NewsWire
-- NanoSensors, Inc. announced today that its majority
stockholder has agreed to transfer 500,000,000 shares of its common
stock back to the companys treasury. Terrance Flowers, the companys
Interim Chief Executive Officer and Director, will seek to convey
his entire common stock interest to treasury, once issued, in an
effort to better facilitate a contemplated asset acquisition or
merger with an operating entity. Mr. Flowers will continue to be
the majority stockholder of the company by virtue of him holding
5,000,000 shares of the companys convertible preferred stock.
In consideration of the fact that any potential acquisition or
business combination would likely involve the issuance of
additional shares of the companys common stock, I find this to be a
necessary step, Mr. Flowers stated. He continued, in the event we
are able to identify and negotiate a transaction for Nanosensors,
the shares to be returned to treasury may be used in part to
effectuate the closing of such deal. He finished, I am cognizant of
concerns over stockholder dilution as well as the companys ability
to attract strong, viable business opportunities.
As of the date of this release, Mr. Flowers has not returned the
aforementioned shares to the companys treasury but will seek to do
so as soon as practicable. As previously announced, Company
management continues to work with Nanosensors court-appointed
custodian to, among other matters, begin publishing current
information with OTC Markets. Mr. Flowers continues to evaluate
prospective asset acquisition or business combinations, but the
company has not entered into any formal agreements with respect to
the same.
Statements in this press release that are not historical fact
may be deemed forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Although
NanoSensors, Inc. believes the expectations reflected in any
forward-looking statements are based on reasonable assumptions,
NanoSensors, Inc is unable to give any assurance that its
expectations will be attained. Factors that could cause actual
results to differ materially from expectations include the companys
ability identify a suitable business model for the corporation.
Contact:
Terrance Flowers
Interim Chief Executive Officer
terrance@perspectivetechinc.com