Wednesday, May 27, 2009 11:46:27 AM
http://finance.yahoo.com/news/Expo-Holdings-Completes-Share-iw-15358265.html
Expo Holdings Completes Share Restructuring
On Wednesday May 27, 2009, 11:09 am EDT
Buzz up! Print NORTH WILKESBORO, NC--(MARKET WIRE)--May 27, 2009 -- Expo Holdings, Inc. (Other OTC:EXPH.PK - News) completes share restructuring.
The company has 896,280,805 outstanding shares currently, and has an authorized share count of 1,000,000,000 (1 billion).
James D. Brown, CEO, stated, "Recently, the company temporarily gagged its transfer agent while it completed share restructuring. The officers of the company have now converted their restricted preferred shares to restricted common shares. To date, the officers have sold no (ZERO) shares, and intend to hold the restricted shares for the foreseeable future. The company has no plans for a reverse split, and has no intentions of increasing its authorized share count."
Glenn S. Harrs, President, stated, "I am pleased to convert my preferred shares to restricted common shares, and hold them alongside of our trusted shareholders. Our long term prospects are very good, and I fully expect our fair market value to recover to a point more in line with the company's expectations. Additionally, we have authorized the transfer agent to resume normal reporting activity."
Brown also stated, "We have raised funds in the recent past. We announced we would raise the funds in advance via press release, and we have now completed that raise. These funds have strengthened our balance sheet, and allowed us flexibility during a tough cash flow period. We recently completed a profitable first quarter, and fully expect cash flow from operations to strengthen over the next 6 months. Reasonable gross profits and net profits are expected in FY 2009. Short term demand for our products continues to strengthen."
The company will soon post its 2008 financials to pinksheets.com, and meet the requirements to remove the Stop Sign icon. 1st Quarter 2009 financials will also be posted within the near future.
About Expo Holdings, Inc.
http://www.expoholding.com
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