Somatic Systems, Inc. Retires One Half-Billion Shares
September 23 2008 - 7:30AM
Marketwired
Somatic Systems, Inc. (PINKSHEETS: SMAS) announced today that it
has completed its fourth round of share buybacks, retiring another
half billion shares of its common stock.
Prior to the beginning of this aggressive buyback program,
Somatic Systems had approximately 8 billion shares of common stock
issued and outstanding. Cancellation of this round of shares brings
the structure down to approximately five-and-a-half billion shares,
eliminating over one quarter of the company's stock.
The sizable elimination of shares has all been completed within
the one month since Somatic Systems announced it would begin a
massive share acquisition and cancellation program, to restructure
the company's capital and grow share price without conducting a
reverse split of the stock. Furthermore, the company has stated its
intention to continue to acquire and retire additional shares.
About Somatic Systems, Inc.
Somatic Systems is the worldwide center for Clinical Somatics?,
the groundbreaking drug-free, non-surgical approach to pain relief.
This proprietary system uses natural, non-invasive movement
techniques -- conducted through one-hour hands-on sessions,
therapeutic exercises classes, and home exercises lasting as little
as 5 minutes a day -- to relieve pain and limitation resulting from
accident, trauma and repetitive stress, including back pain, knee
pain, joint problems, carpal tunnel syndrome, TMJ, scoliosis,
bursitis, sciatica, headaches, tendonitis and more. Clinical
Somatics(TM) also provides performance gains and injury prevention
for casual and professional athletes.
Somatic Systems is pursuing a 3-part growth strategy, consisting
of a nationwide rollout of pain management Somatics Clinics;
increased production and distribution of therapeutic videos, books,
and other retail self-help Somatics Products; and expanded Somatics
Training Programs to supply Clinic practitioners serving medical
and orthopedic professionals and institutional and corporate
programs. The company operates a suite of web sites offering
Somatics information, products, resources, and opportunities, at
www.somatics.org.
Safe Harbor Act: This release includes forward-looking
statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 that involves
risks and uncertainties including, but not limited to, the impact
of competitive products, the ability to meet customer demand, the
ability to manage growth, acquisitions of technology, equipment, or
human resources, the effect of economic business conditions, and
the ability to attract and retain skilled personnel. The Company is
not obligated to revise or update any forward-looking statements in
order to reflect events or circumstances that may arise after the
date of this release.
Contact: For more information visit http://www.somatics.org or
contact: Investor Relations 1 877 586-2555
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