CYduct Diagnostics Inc (CYDX)

[MoeMoe99]

Solos Endoscopy, Inc. Announces Retirement of 150 Million Common Shares

BOSTON, Feb. 14, 2012 /PRNewswire via COMTEX/ -- Solos Endoscopy, Inc. (OTCPK: SNDY) announced today that the Company's Board of Directors has completed the retirement of one hundred fifty million (150,000,000) common shares held by its officers and directors in exchange for Series B Convertible Preferred Shares. The common shares held by the officers and directors have now been cancelled and returned back to the Company treasury. This transaction represents a reduction of approximately 22% of the Company's issued and outstanding common shares.
The retirement of common shares by the Company's officers and directors will allow for greater flexibility to utilize the assets of Solos for debt reduction, future financing, and services. The Company intends to use proceeds from future financing for the development of new instrument lines as well as further enhancements to its MammoView? instrument line.