Hybrid Technologies, Inc. Announces Action Taken at Annual Stockholders Meeting
December 21 2007 - 2:57PM
Marketwired
LAS VEGAS, NEVADA (www.hybridtechnologies.com), emerging leaders
in the development and marketing of lithium-powered products
worldwide, at the annual meeting of stockholders held on Friday,
December 21, 2007, the stockholders of Hybrid Technologies, Inc.
approved the following matters which have been previously approved
by Hybrid's Board of Directors:
1. Election of Directors and Authorized Share Increase -
Stockholders have elected our current four directors for additional
one-year terms and approved an increase in the number of shares of
our authorized common stock from 50,000,000 to 250,000,000. A
motion approved by a majority of stockholders also recommended to
the Board to implement a one-for-seven reverse split of our common
stock.
2. Reverse Split - Our Board of Directors, at the annual meeting
of the Board, acting on the recommendation of a majority of our
stockholders, has approved a 1:7 reverse split, to be effective
early in 2008 when processed by the NASD. The reverse split
approved by the Board will also reduce our newly authorized number
of shares of common stock from 250,000,000 to 35,714,285.
About Hybrid Technologies
www.hybridtechnologies.com
Forward-Looking Statement
This press release may include forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
statements are based on the Company's current expectations as to
future events. However, the forward-looking events and
circumstances discussed in this press release might not occur, and
actual results could differ materially from those anticipated or
implied in the forward-looking statements.
Contacts: Hybrid Technologies, Inc. Media Contact 1-888-HYBTECH
(1-888-492-8324) Website: www.hybridtechnologies.com
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