Simulated Environment Concepts to Initiate a Plan Reducing Authorized Shares
July 21 2011 - 5:50AM
Simulated Environment Concepts (Pink Sheets:SMEV), the manufacturer
and developer of medical, aesthetic, weight loss, wellness, and
slimming equipment, announced today that the company will seek to
reduce its Authorized Shares by the month's end.
Dr. Ella Frenkel, President, CEO and Co-Founder of Simulated
Environment Concepts (SE Concepts) stated, "I am a vested
shareholder just as many of our investors. Where there is market
dilution, I hear about it from our shareholders. When there is a
decrease in share value, it affects me personally as well, and
where necessary action must be taken to override current
perception, I will take the appropriate measures as circumstance
permits and do so to the best of my ability. In this instance, we
are responding to our shareholders and we are beginning to initiate
a multiphase plan to reduce the current Authorized Share
amount."
Along with other items -- such as the audit -- reducing the
authorized shares was one of the tasks to be addressed during the
last shareholder conference call. Management indicates that
while the intent is to bring the authorized share amount to the low
10 digits, this will have to be accomplished in phases. The
reduction in Authorized Shares is yet another management promise
coming to fruition.
Allen Licht, Chief Operating Officer of Simulated Environment
Concepts (SE Concepts) stated, "As we are working through the data
for the audit, we've been able to identify several reasonable
methods of protecting company's interest while also further
securing the interest of fellow investors and shareholders. As
we're able to put those protections into place, we can continue
reducing the authorized shares responsibly, one step at a
time."
People close to the company suggest that while the first
reduction phase may drop the current authorized down from double
digits to the high single digits, the anticipated second phase,
which is likely to occur after the audit's completion, could
further reduce the Authorized Shares amount; perhaps considerably
lower. There is also anticipation that if the company
is successful in securing a significant investment from current
suitors, not only will the company further reduce authorized
shares, but it will also take measures to greatly strengthen
corporate structure and prepare itself to acquire other similar
business and/or patents.
Dr. Frenkel said that it was likely she'll, "Make a personal
concession to have the initial phase work." This would seem to
suggest that not only will the authorized shares be decreased, but
Dr. Frenkel herself may reduce her own personal equity during this
structuring as well.
Dr. Frenkel concluded, "While we cannot always satisfy every
request of each individual shareholder, we do listen, and we
encourage our fellow shareholders to be in communication with us
through email, Facebook, Twitter and of course our corporate
blog. We have one goal and that is to build a strong and
profitable company. We will do this by producing and selling
globally successful products like the SpaCapsule and consciously
making decisions that we hope will continue to positively impact
and strengthen shareholder value."
About Simulated Environment Concepts, Inc.
Simulated Environment Concepts, Inc. (SE Concepts) (Pink
Sheets:SMEV) is an industry leading manufacturer and developer of
cutting edge medical, health and wellness equipment promoting
relaxation, physical rehabilitation, weight loss, slimming and
cellulite reduction.
SE Concepts was established in 2000 by doctors dedicated to
advancements in medical technology and aesthetics. Its
flagship product, SpaCapsule®, which is currently distributed in
over 37 countries, is a robotic massage therapy system used for
medical rehabilitation, relaxation, weight loss, slimming,
cellulite management and general wellness.
Safe Harbor
Statements in this news release that are not historical facts,
including statements about plans and expectations regarding
products and opportunities, demand and acceptance of new or
existing products, capital resources and future financial results
are forward-looking. Forward-looking statements involve risks and
uncertainties which may cause the Company's actual results in
future periods to differ materially from those expressed. These
uncertainties and risks include changing consumer preferences, lack
of success of new products, loss of the Company's customers,
competition and other factors discussed from time to time in the
Company's filings with the Securities and Exchange Commission.
SpaCapsule is a registered trademark of Simulated Environment
Concepts, Inc.
For more information on SE Concepts, SpaCapsule®, PTjetCapsule™
and Celude Laboratories™ products you can visit the company's
product website at www.spacapsule.com, the corporate website
at www.seccorporation.com, the corporate blog at
http://www.spacapsule.wordpress.com, facebook at
http://www.facebook.com/SpaCapsule or request more information via
email at ir@spacapsule.com, or call at (888) 757-0797 or (305)
651-9200.
CONTACT: Simulated Environment Concepts
Investor Relations Department
(888) 757-0797
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