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LoftWerks, Inc. Increases Authorized Shares: Anticipates Consultech Inc. Merger
NASHVILLE, TN -- (MARKET WIRE) -- February 06, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced that it was increasing its number of authorized shares by 300,000,000. A company spokesperson explained that this increased number of shares was necessary to insure adequate capitalization, prior to LoftWerks' planned merger with Consultech Construction Management, Inc. "We believe that this move will help to insure shareholder dollar value and facilitate our operations during the merger process," said LoftWerks CEO Dennis Ammerman. "Our future partners at Consultech have requested that we make this move in anticipation of the merger to provide continuity in our operations. I know that it is unorthodox in its application, but in this case, we feel that 'dilution is the solution' we need to attack this situation from both sides of the fence." Ammerman continued, "Our financials will be out prior to February 10, 2006. They will ensure our shareholders that an 'out-of-the-box' response to what would normally be a steady downward spiral to posting a shell for sale, is made and enacted by a company that is truly ready to climb out of boxes!"
Ammerman further explained that this authorization has been done in anticipation of a future reverse stock split, which will be announced well in advance and according to the best interests of all shareholders. Consultech Director-General Petar Vucicevich expressed his excitement regarding the upcoming merger. "We see a true opportunity to create something really special for all of our shareholders," he said. "This increased authorization will insure that everything will continue to run smoothly during the pendency of the merger process."
This contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward-looking statements maybe identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions: "may," "could," "should" or "might occur." Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.
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