KGRI Announces Assurances to Shareholders Related to Its Stock Structure
September 02 2010 - 1:33PM
Marketwired
The Kiley Group, Inc. (PINKSHEETS: KGRI) announced today that due
to shareholder concerns it was making public its announcement that
the Company has no plans to reverse split the Company's stock again
in the foreseeable future. They further stated that at their next
regularly scheduled Board of Directors meeting which is scheduled
for November 30, 2010 they will introduce a resolution to place a
moratorium on changes to the number of Authorized shares, the
Issued and Outstanding shares, and a restriction on any additional
reverse stock splits.
"At our Board Meeting in November, we will address each of these
issues and notify shareholders via a press release or filings with
www.Pinksheets.com of the details of the resolution," stated James
Martin, President of The Kiley Group. "I am convinced that we have
the consensus of the Board and will make a further announcement as
soon as we have the resolution completed. We feel that our current
number of free trading shares is very small for a microcap company,
and we intend to keep it that way."
At the present time the Company stated that its share structure
is as follows:
- Authorized Shares: 5,000,000,000
- Issued/Outstanding: 3,029,344,903
- Tradable Float: 740,200,515
Affiliates/Insiders are currently holding 66.2% of the
outstanding shares which are restricted from being traded under
Rule 144.
The Company also stated that it recently updated its company
information on pinksheets.com and that it intends to continue to
update the information on an 'as needed' basis. "Please stay tuned
for additional updates and information from The Kiley Group, Inc.,"
stated Mr. Martin.
About The Kiley Group, Inc. The Kiley
Group, Inc. is located in the heart of the Dallas, TX metroplex.
The Company specializes in assisting small to medium sized
companies prepare for and take their companies public.
Safe Harbor Act Disclaimer:
Forward-looking statements in this release are made pursuant to the
Safe Harbor Provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are subject to
certain risks, and uncertainties and actual results could differ
from those discussed. This material is information only and is not
an offer or solicitation to buy or sell the securities.
Contact: The Kiley Group, Inc. info(at)kileygroupinc(dot)com
Kiley (CE) (USOTC:KGRI)
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