US National Telecom Announces Further Reductions in Its Authorized Common Stock by 500 Million Shares
(firmenpresse) - MIAMI, FL -- (Marketwire) -- 04/09/12 -- US National Telecom, Inc. (PINKSHEETS: USNL) announces that the Board of Directors has approved to reduce the authorized common stock by 500 million shares. The Company has filed with the secretary of state to further reduce its authorized common stock by 500 million shares and awaits its effectiveness.
The current capitalization of US National Telecom, Inc. is as follows and is unchanged from its previous announcement. As of April 9, 2012 there are currently 3,475,250,391 shares issued and outstanding of which 3,000,210,033 are restricted and will not be made free trading. The Company has filed with the secretary of state the amended changes and will announce its effectiveness in the coming days.
CEO Rebecca Guthrie stated, "I along with current shareholders am concerned where the valuation is currently with our company. I would like to provide some stability in our company and its share price. I believe that this change will provide confidence that the Company is working diligently to increase shareholder value. We look forward to continuing our plans in the real estate market in the coming months."
US National Telecom, through its subsidiary Florida Bay Investments, Inc., plans to invest in cash flow properties in multiple real estate markets throughout Florida. The markets that have been targeted include Gainesville, Tampa, St. Petersburg, Orlando, and Jacksonville, Florida. Further acquisitions in Miami, Ft. Lauderdale, and Palm Beach, Florida are also being considered in the due diligence currently underway.
US National Telecom is a Florida based company. It is a development stage company looking to acquire real estate interests that offer positive cash flow returns. It has a website:
Safe Harbor Statement
Information in this document constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast", "anticipate", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause US National Telecom's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in US National Telecom's filings. All forward-looking statements attributable to US National Telecom here in are expressly qualified in their entirety by the above-mentioned cautionary statement. US National Telecom disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.
For further information please contact
Rebecca Guthrie
786 202 1023
email
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Datum: 09.04.2012 - 13:25 Uhr
Sprache: Deutsch
News-ID 132963
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MIAMI, FL
Kategorie:
Commercial & Investment Banking
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