Southern ITS International, Inc. Is Announcing Its Plan for 2014
January 28 2014 - 1:35PM
Marketwired
Southern ITS International, Inc. Is Announcing Its Plan for 2014
LAS VEGAS, NV--(Marketwired - Jan 28, 2014) - Southern ITS
International, Inc. (PINKSHEETS: SITS) announced today its plan for
the Fiscal year 2014. In 2013 SITS did not issue any common
shares and did the contrary by doing a rescission of 160,000,000
shares from management to increase PPS. SITS issued 5,000,000
preferred shares during 2013 to maintain management control of the
company. The unchanged outstanding number of common shares is
188,217,382 with a float of 146,816,982 common shares. SITS'
plan for 2014 does not include at this time any issuance of new
shares. SITS' plan is to reduce its number of authorized
shares from 500,000,000 to 250,000,000, and also is planning to
start to buy back some of its float after the first quarter.
SITS' business strategy is to continue to build on its gaming
market and is now targeting revenue for that market to be
approximately $3 million dollars for 2014. In regards to the
other markets such as retail, government, logistics and other, the
objective is to achieve over $1 million dollars in
sales. Finally, SITS will roll out a new product for the
correctional market after the first quarter of 2014, that will also
include services to produce recurring revenues.
Jason Bell, Chief Executive Officer of Southern ITS
International, Inc., noted, "Last year our sales objectives were
almost met. This year we are planning to double our
revenue. We have several important large contracts under
negotiation that can make our objective easy to achieve. We
feel good about our core team and our capacity to execute the
plan. Our acquisition plan is still part of our 2014
objective, but it depends on the performance of our share price and
how the investment community values our company. This coming
year will be exciting and we will make some additional
announcements soon."
About Southern ITS International, Inc. Southern ITS
International, Inc. is committed to the mission of providing total
systems integration projects 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 digital video recording solutions and
integrating our technological solutions with other existing
systems, which results in a significant capital savings and TCO for
our clients. Southern ITS International is positioning itself to be
a leading force in this business space.
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."
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