Solar Thin Films Completes Reverse Stock Split and Changes Trading Symbol to SLTZ:OB
September 08 2009 - 1:31PM
Marketwired
Solar Thin Films, Inc. (OTCBB: SLTZ) today announced that as of
September 3, 2009, it completed a one-for-five reserve split of its
outstanding shares of common stock. As a result each of the reverse
split, each of the approximately 100.0 million previously
outstanding shares represents 0.20 of a new share, and there are
now approximately 20.0 million Solar Thin Films shares outstanding.
In addition, the Financial Industry Regulatory Authority (FINRA)
agreed to change the trading symbol of Solar Thin Films shares on
the OTC Bulletin Board from SLTN.OB to SLTZ.OB.
Robert M. Rubin, President of Solar Thin Films, commented, "We
believe that this reverse stock split will help to rationalize our
capital structure and will enable our Company shares to ultimately
trade at levels that will more meaningfully reflect our anticipated
growth, additional orders and return to profitability."
About Solar Thin Films, Inc.
Solar Thin Films (www.solarthinfilms.com) develops, manufactures
and markets a complete line of manufacturing equipment for the
production of "thin-film" amorphous silicon photovoltaic ("PV")
modules through its subsidiary KRAFT Elecktronikai Zrt. based in
Budapest, Hungary. The Company sells both individual and "turnkey
systems" to customers currently located in China, Spain and the
United States and has produced equipment for installations in the
US, Germany, Portugal, Taiwan, Greece and Spain. The Company
believes that its line of thin-film photovoltaic manufacturing
equipment positions it to take advantage of the rapidly growing
demand for solar modules and an expected market shift towards
"thin-film" PV modules as part of a cost effective, "clean
technology" energy solution.
Forward-Looking Safe Harbor Statement
Statements in this news release regarding future financial and
operating results, potential applications of the Company's
technology, opportunities for the Company, and any other statements
about the future expectations, beliefs, goals, plans, or prospects
expressed constitute forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Any
statements that are not statements of historical fact (including
statements containing the words "will," "believes," "plans,"
"anticipates," "expects," "estimates," and similar expressions)
should also be considered to be forward-looking statements. There
are a number of important factors that could cause actual results
or events to differ materially from those indicated by such
forward-looking statements including: limited operating history,
need for future capital, and economic conditions generally.
Additional information on potential factors that could affect
results and other risks and uncertainties are detailed from time to
time in the Company's periodic reports, including Forms 10-K, 10-Q,
8-K, and other forms filed with the Securities and Exchange
Commission ("SEC").
These statements, and other forward-looking statements, are not
guarantees of future performance and involve risks and
uncertainties.
Investor Relations Contact: Strategic Growth International,
Inc.: Stan Altschuler / Richard Cooper Tel: 212-838-1444 Email
Contact / Email Contact www.sgi-ir.com
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