RSDS (.0001) Russell Industries No Reverse Split for 2007
Tuesday, November 06 2007 6:59 AM, EST Business Wire "US Press Releases "
HOUSTON --(BUSINESS WIRE)--
Russell Industries, Inc. (Pink Sheets:RSDS), announces that its Board of Directors has decided that it will not ask its shareholders to vote for a reverse split in 2007. "The Board and Management feel that the present price per share of RSDS is not reflective of the Company's assets and potential. If there is little to no improvement during the remainder of the year, the Company will recommend that this action be put to a vote sometime during the first quarter of 2008," said Rick Berman, President and CEO.
Russell Industries, a Nevada Corporation , was incorporated in 1997. The Company is a holding company that acquires assets in the energy, mining, healthcare and financial industries. The Company owns a majority ownership interest in 254 Unpatented Uranium Mining Claims in San Juan County, Utah as of November 1, 2007 .
Safe Harbor
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. Investors should be aware that the Company raises equity capital by selling its stock as per SEC Regulation D, Rule 504 Exemption to Accredited Investors. One result to date of this method of financing is a large amount of issued and outstanding free trading common stock in the market. Another result is the Company has no loans or any other financing debt obligation.
Source: Russell Industries, Inc.
