JCDS.pk ( .0016 ) JC Data Solutions Announces It Is Completing a Reduction in Outstanding Shares by 40% Market Wire "US Press Releases "
IRVING, TX -- (MARKET WIRE) -- 02/08/08 -- JC Data Solutions, Inc. (PINKSHEETS: JCDS) announced today it plans to reduce the company's total outstanding shares. The company is returning to its treasury 250 million common shares.
Cary Allen, JCDS's Chairman and Chief Executive Officer, said, "In an attempt to increase shareholder value we plan to reduce outstanding shares this year. We began the fiscal year with approximately 270 million common shares outstanding and have increased that number to approximately 620 million outstanding shares through insider share distribution. We have reconsidered our position and decided to bring back our outstanding shares to approximately 370 million shares. We are also considering buying back shares in the open market during 2008."
"The future of our company is on the right track," commented Allen. "We have made substantial progress in efforts to position ourselves as a key player in the Healthcare, Oil and Gas and Attorney markets. We expect to be in position by year-end, at the latest, to announce testing applications of our new software that captures processes and reports ACH transaction data for the above stated industries."
About JC Data Solutions, (www.jcdata.com)
JC Data Solutions is an ACH service provider and a manufacturer of data management systems and services. JCDS solutions are targeted to Healthcare, Attorneys and the Oil and Gas industries.
Forward-Looking Statements
This press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are "forward-looking statements" are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties or other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as: the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels.
All information in this release is as of the date of this release.
For Information call:
Cary Allen
CEO
JC Data Solutions, Inc.
214-295-5810
Email Contact
AI
