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BOSTON, MA--(MARKET WIRE)--Nov 30, 2006 -- Solos Endoscopy, Inc. (Other OTC:SLSE.PK - News) is pleased to announce that the Company is offering a share buyback program to its shareholders. Solos Endoscopy, Inc. will offer to buy back common shares of stock from shareholders in exchange for convertible preferred stock to be valued at $0.50 a share. Current shareholders must have their shares into Florida Atlantic Stock Transfer by December 29th, 2006 in order to qualify for the exchange of common shares to convertible preferred shares.
For every one share of Solos Endoscopy, Inc. that shareholders turn into Florida Atlantic Stock Transfer by the deadline, the shareholders will receive one share of convertible preferred stock valued at $0.50 per share. The preferred shares, following a one-year holding period, can then be converted back to restricted common shares at a dollar for a dollar exchange. Shareholders must turn in a minimum of 1000 shares in order to qualify. The convertible preferred stock will be protected from any future stock restructuring by the Company.
"We are very pleased to be able to offer our shareholders this buyback program. With our share repurchase program announcement today, we are reaffirming our confidence and optimism in the long-term future of the Company. As more information becomes available, it will be provided on our website," stated Robert Segersten, President of Solos Endoscopy, Inc.
About Solos Endoscopy, Inc.:
Solos Endoscopy, Inc. is a healthcare technology company whose mission is to develop and market breakthrough technology, applications, medical devices, and procedural techniques for the screening, diagnosis, treatment and management of medical conditions. Backed by technical support, Solos' sales team can help make the right buying decisions for the hospital, surgery center, or physician office. Additional information is available on the Company's website at: www.solosendoscopy.com.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
Solos Endoscopy, Inc.
Source: Solos Endoscopy, Inc.