US National Telecom Announces Effectiveness of Changes Made to Authorized Common Stock
(firmenpresse) - MIAMI, FL -- (Marketwire) -- 04/18/12 -- US National Telecom, Inc. (PINKSHEETS: USNL) announces that the Florida Secretary of State has approved our amendment to reduce the authorized common shares effective as of April 12th, 2012. The Board approved a 500 million share reduction down to four billion five hundred million shares authorized.
The current capitalization of US National Telecom, Inc. is as follows and is unchanged from its previous announcements. As of April 18, 2012 there are currently 3,475,250,391 shares issued and outstanding of which 3,000,210,033 are restricted and 475,040,358 are free trading.
CEO Rebecca Guthrie stated, "The effectiveness of this change is a positive step in the right direction. The company has not ruled out further reductions in its authorized common stock. The issued and outstanding remains unchanged and is a concern for many shareholders that the company has issued stock lately but this is not the case. We are in discussions with several real estate management companies that include Remax, Coldwell Banker and Rent Solutions Inc, and we look forward to working with them over 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:
For further information please contact Rebecca Guthrie at 786 202 1023 or email
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.
Contact
Rebecca Guthrie
786 202 1023
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Datum: 18.04.2012 - 13:00 Uhr
Sprache: Deutsch
News-ID 136457
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MIAMI, FL
Kategorie:
Commercial & Investment Banking
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