PDGT share buyback should be about to begin...
http://ih.advfn.com/p.php?pid=nmona&cb=1231720991&article=28772735&symbol=NO%5EPDGT
Paradigm Updates on Outstanding Shares and Announces a Stock Buyback Program
GEORGETOWN, Mass., Oct. 16 /PRNewswire-FirstCall/ -- Paradigm Tactical Products Inc. (Pink Sheets: PDGT), a leading provider of detection technology and homeland security solutions to the military as well as to the corrections, law enforcement and security industry updates shareholders on the company's current outstanding share count and announces a stock buy back program.
Paradigm would like to report to its shareholders that there are currently 839,680,555 outstanding shares, unchanged from our last report. The company has made significant progress over the course of the last year, and has reached certain milestones that have prepared it for strong growth in early 2009. For many months management has recognized that the company has been extremely undervalued. Vincent Cammarata stated that at the time, we were primarily focused on getting our new products developed and manufacturing underway. At the same time we have always believed that a share buyback program would not only benefit the company, but also its shareholders.
In September we voted to go forward with the intended share buyback program and buy up to 200 million shares of the company's stock commencing in January 2009, for a period of 4 months thereafter. It is our intent to purchase the stock in the open market by using a portion of our profits from the sales of our new products, the RadSafe, StealthSensor and others that are scheduled to be added to our line in the near future. We believe that the share buyback program is a positive move for everyone.
We are very confident that with the strong demand for our products, along with our future anticipated sales, next year should be a great year for the company and our shareholders.
About Paradigm Tactical Products
Paradigm Tactical, based in Georgetown, Massachusetts, is a leading provider of detection technology and homeland security solutions to the military as well as corrections, law enforcement and security industry. The Company owns rights to license, manufacture, market, and sell all of its devices. As the heightened attentiveness to terrorist and other security threats continue to increase, Paradigm Tactical is meeting the higher demand for security and inspection systems. The Company has sold products to numerous Federal, State, and local institutions.
For more information go to: http://www.paradigmglobalproducts.com/ or http://www.goldenboards.com/
Safe Harbor Statement from Paradigm Tactical Products, Inc.: Statements in this press release concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses or other financial items, and network or service offering growth, together with other statements that are not historical facts, are 'forward-looking statements' as that term is defined under the Federal Securities Laws. Any forward-looking statements are estimates, reflecting the best judgment of the party making such statements based upon currently available information and involve a number of risks and uncertainties, including the timing of any expansion of the Company's database, and other factors which could cause actual results to differ materially from those stated in such statements. Risks, uncertainties and factors which could affect the accuracy of such forward-looking statements are identified in the public filings made by the Company with the Securities and Exchange Commission, and forward-looking statements contained in this press release or in other public statements of the Company should be considered in light of those factors.
CONTACT: Paradigm Tactical Products Vincent Cammarata, President and CEO Phone 978-702-9106
DATASOURCE: Paradigm Tactical Products Inc.
CONTACT: Vincent Cammarata, President and CEO of Paradigm Tactical
Products, +1-978-702-9106,
Web Site: http://www.goldenboards.com/
http://www.paradigmglobalproducts.com/
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