UDS Group, Inc. Announces 2 for 1 Stock Split
By BusinessWire
Last Update: 3/22/2006 7:00:01 AM Data provided by
BOCA RATON, Fla., Mar 22, 2006 (BUSINESS WIRE) -- UDS Group, Inc. (Pink Sheets:UDSG) announced today that its board of directors has approved a 2 for 1 (forward) stock split of the company's outstanding common shares. Shareholders of record at the close of business on April 21, 2006 will be entitled to the split, receiving one additional UDSG share for every share they own.
"Based on the client relationships that UDS is building and their decision to launch delivery operations utilizing UDSG's all encompassing system, our strengthening financial outlook and the healthy appreciation of our stock price, we are pleased to declare this 2 for 1 stock split while meeting our primary corporate goal of rewarding our shareholders," stated CEO Ryan Coblin.
The decision to move ahead with the stock split reflects the confidence our management team has for the continued growth and expansion of our delivery operations, which in turn will bolster the confidence of our shareholders. Another built-in benefit of the stock split is the creation of additional market liquidity for our stock and reiterates our sharp focus on enhancing shareholder value.
The UDSG management team is extremely pleased with several recent accomplishments. We have recently announced our projected clients delivery sales forecast of $88 million comprising the fiscal years of 2006-2007, achieving a debt-free status for the company, and the fact that we are current in our financial filings with the plan to move onto a larger exchange. UDSG keeps on making significant progress with regard to the expansion of our consumer base, which will directly impact our clients' delivery sales forecast. While it is our goal to phase-in additional clients and territories, the launch of our delivery system has opened revenue channels that are the gateway to what we believe is a very bright future for UDSG. We are excited to assist our clients in being able to deliver "What You Want, When You Want It."
Disclaimer: This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including statements regarding industry prospects and future results of operations or financial position, made are forward-looking. We use words such as "projects," "projections," "anticipate," "believe," "expect," "intend," "estimate" (and the negative of any of these terms), "future" and similar expressions to help identify forward-looking statements. These forward-looking statements are subject to business and economic risk and reflect management's current expectations, and involve subjects that are inherently uncertain and difficult to predict. Our actual results could differ materially. We will not necessarily update information if any forward-looking statement later turns out to be inaccurate. Risks and uncertainties that may affect our future results include, but are not limited to, market risks, contractual risks, restaurant industry risks, revenue and cost risks, litigation risks, and risks of having inadequate capital for operations.
SOURCE: UDS Group, Inc.
