GACI Possible split``The company plans to recommend a forward split of the common stock,'' Meriwether concluded
900,000 float and I thin that the highest volume day that it has had in almost 3 months is 8,000 shares..
Global Acquisitions Announces New Strategy
SALT LAKE CITY--(BUSINESS WIRE)--July 25, 2001--Global Acquisitions Inc. (OTCBB:GACI - news) Wednesday announced a fundamental change in its business model.
The company has been identifying and negotiating with a number of candidates for mergers and acquisitions.
As the company completes its acquisition of Standard American Oil, the opportunities to acquire and incubate additional, significant, energy and technology companies have increased.
``While the value of Standard American Oil is something that we feel will benefit our shareholders, acquiring additional companies within the energy sector and other fields allows us to diversify our interests,'' commented Global President & Chief Executive Officer Mark Meriwether.
``We have decided to take the opportunity to grow our business through merger and acquisition, rather than solely rely on a single opportunity. The only obstacle to completing this strategy, is the extremely limited number of shares of common stock available. Therefore, we plan to ask the shareholders to approve an increase in capitalization to help facilitate these transactions.
``The company plans to recommend a forward split of the common stock,'' Meriwether concluded.
The company cautioned investors that although all of the prospects look extremely promising, there are a number of risks and no assurance or guarantee of success. This news release may contain certain ``forward-looking statements'' within the meaning of the United States Securities Exchange Act of 1934, as amended.
All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding the potential of finding and developing oil and gas reserves, exploration results and future plans and objectives of Global Acquisitions, are forward-looking statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be accurate, and actual results and future could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from the company's expectations are disclosed under the heading ``Risk Factors'' and elsewhere in documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
