Southern ITS International, Inc. Announced That It Is Making Changes to Its Shares Structure and Starting Its Acquisition Pro...
September 12 2013 - 8:30AM
Marketwired
Southern ITS International, Inc. (PINKSHEETS: SITS), announced
today that is in the process of changing its outstanding shares
structure. Jason Bell the CEO has returned to the SITS treasury a
significant number of his shares, bringing the total shares
outstanding to 188,217,382 shares from 348,217,382.
SITS is now starting its acquisition program that will be based
on SITS shares and investment funds. For SITS it is important to
increase our per share valuation as we start our acquisition
program. By reducing the total shares outstanding we are expecting
a direct impact on our market capitalization, which in turn should
be adjusted by the market and its investors reflecting a higher per
share value.
SITS is starting its due diligence process with an Integration
company in Arizona and another in California. Our target is to have
at least one MOU in place by the end of October and one completed
acquisition by the end of the year. The targeted Integration
companies are currently doing very little in the gaming market
space, but can provide to SITS the perfect path to expansion and
growth. The two states where the targeted integration companies are
have a large number of Casinos and we hope to bring our expertise
to them via the new acquisitions. This targeted expansion will also
allow us to diversify our global portfolio of clients.
Jason Bell, Chief Executive Officer of Southern ITS
International, Inc., noted, "The gaming market is currently growing
again and showing great level of interest from the investment
community. Many Casinos are now trying to catch up for not having
upgraded their technology infrastructures for the last four years,
due to the recession. Casinos are now more confident in investing
in their technology infrastructures to answer their clientele's
demand for quality access to wireless within the hotels and casino
areas. Regarding the surveillance and security aspect of Casino
systems, many are out of date systems that need to be upgraded due
to better management considerations and due to some state
regulations that are requiring upgraded IP surveillance networks.
For SITS it is time for us to move fast and we are making the
proper steps to do so."
About Southern ITS International, Inc.
Southern ITS International, Inc. is committed to the mission of
providing total systems integration projects to Casinos and Hotels
by maintaining cost effectiveness while providing high end voice,
data, surveillance and audio/visual systems. We are represented
throughout the world by leading individuals within the digital
surveillance and IT integration industry. We are providing a
digital video recording solution and integrating our technological
solutions with other existing systems, which results in a
significant capital savings for our clients. We are taking the
steps to try to be positioned to be a leading force in this
business sector.
Precautionary and Forward-Looking
Statements
This release contains "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,
and such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words
such as "may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
or risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in the Company's disclosures or filings with OTC
Markets, Inc. You are further cautioned that stocks of smaller
companies like Southern ITS International, Inc. are inherently
volatile and risky and that no investor should buy this stock
unless they can afford the loss of their entire investment.
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