Axis Technologies Group Inc (AXTG)

[jzman22]

Axis Board of Directors Votes Against Forward Stock Split

LINCOLN, Neb., Nov 28, 2006 (BUSINESS WIRE) -- Axis Technologies Group, Inc. (Pink Sheets:AXTG) announced that a special meeting of the Board of Directors was held today with regard to a possible forward split of the company's common stock. After a comprehensive discussion of the matter, the Board voted against any forward split of the company's common stock as this time.
"Although the proposed forward split may have offered certain short-term advantages, we are convinced that it is in our best interest to adhere to a long term strategy for Axis shareholders" said Jim Erickson, President of Axis Technologies Group, Inc. "We are now in the process of retaining a firm to assist us with our long term strategy of listing on a larger exchange. Because stock price is one of the primary criteria for such a move, we deem it best to maintain our current capital structure" Erickson added.