Friday, April 10, 2015 9:40:03 AM
SUTIMCO International INC., Decrease in shares Issued and Outstanding.
DALLAS, TX -- April 10th, 2015 -- InvestorsHub NewsWire -- SutimCo Inc. (OTC PK: SUTI) ("The Company")
Today, the new CEO and Management of the company announce the retirement of 500,000,000 (Five Hundred Million) shares of the company’s current issued and outstanding shares.
The shares will be surrendered to the treasury in exchange for preferred stock. The move will become effective as of Monday April 13th. The move comes as the new CEO and management agreed to increase the shareholders’ value and decrease the already small float and the overall issued and outstanding shares.
“As the new CEO, I want to encourage the rest of the management to continue the momentum that the company is building by decreasing the Issued and Outstanding shares (OS), and ungagging the Transfer Agent. I’m encouraged by the enthusiasm of our management team, and will be adding more industry veterans to help me grow this company and achieve objectives of the current business plan. As the share reduction becomes effective Monday April 13th, I will be announcing the addition of several new executives that will enhance my team. We are starting with a new President and a new Chairman of the Board, new product developers and formulators as well as the new product designers. My objective is to take this company to greater heights and become an industry leader in this market sector.” Stated Mr. Jarrod Turned, new CEO.
The company will continue to strive for complete transparency with frequent updates and disclosures.
Thank you,
The Management, Sutimco International Inc.
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