Simulated Environment Concepts Enacts First Phase of Authorized Share Reduction Plan
July 26 2011 - 5:30AM
Simulated Environment Concepts, Inc. (Pink Sheets:SMEV), the
manufacturer and developer of medical, aesthetic, weight loss,
wellness, and slimming equipment, announced today that the company
has officially initiated the first phase of the Authorized Share
reduction plan. Authorized shares have now been reduced by two
billion shares with the second phase targeting an additional 4
billion shares.
Dr. Ella Frenkel, President, CEO and Co-Founder of Simulated
Environment Concepts (SE Concepts) stated, "The first phase of our
plan provided room to make an initial reduction of nearly 20% in
authorized shares. As we continue rolling through the auditing
processes to completion, we will be better positioned to identify
how many additional shares can be eliminated from the authorized
share count within the second phase of our plan."
Management indicates that a second phase reduction of the
authorized shares targets as much as 40%. In order to achieve
this, it is assumed that a further decrease in Directors' equity
holdings will be required. During the current phase, the
reduction in Preferred Share holdings from Directors permitted
elimination of authorized common stock.
It is expected that the company will eventually reduce its
authorized share count to roughly three billion shares. The
company also anticipates completing the audit, securing significant
financing and being engaged in the completion of a possible
merger/acquisition by the time its target authorized share amount
is achieved.
Dr. Frenkel concluded, "We are headed in the right direction,
taking every necessary step to strengthen our company's perception
among investors and shareholders, and to strengthen our actual
market position."
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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