Perihelion Global Reduces Authorized Shares to 325 Million With Delaware Secretary of State; Provides Share Structure Updates
2007-09-20 11:26 ET - News Release
WILMINGTON, DE and SANTA ROSA BEACH, FL -- (MARKET WIRE) -- 09/20/07
Perihelion Global (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, today announced that the company has further reduced the Authorized Shares of the corporation to 325 Million shares. The reduction was effective Wednesday, September 19, 2007 with the Delaware Secretary of State.
Upon completion of the merger with Vision Works Media Group on October 24, 2006, the company inherited an authorized share structure of 30,200,000,000 (30+ Billion) shares. Since that time, the company has worked to successfully reduce the Authorized Shares by 99% to 325 Million. Although not currently reflected in the company's price per share, the company has been diligent during this time in resolving any potential concerns in its Shares Outstanding. The current Outstanding Shares of the company are 130,177,400.
The company wishes to inform its shareholders that there are no acquisitions planned at this time that should have a substantial effect on the company's share structure. All pending, future or anticipated acquisitions previously announced will conform within the company's new Authorized Share structure. Additionally, the company wishes to inform its shareholders that the pending acquisitions of the OTCBB shell companies are expected to be completed without the assumption or inheritance of liabilities by the company.
The company intends to announce an update on the progress and status of its Canadian based Perihelion Canada, Inc. subsidiary in the near future.
About Perihelion Global:
Perihelion Global focuses on the acquisition, development and management of technologies, strategic commodity reserves and assets in the energy, natural resource and communications markets. Perihelion's management team specializes in providing solutions for the strategic challenges of the 21st Century. We lead with decades of experience in environments that are mission critical in today's global marketplace: Technology, Energy and Communications.
