ETNL news:
Eternal Image Again Reduces Its Authorized Stock - This Time by More Than One Billion Shares - as Part of Significant Stock Restructuring Business Wire "US Press Releases "
FARMINGTON HILLS, Mich.--(BUSINESS WIRE)--
Eternal Image, Inc. (OTC:ETNL.PK), a public company engaged in the design, manufacturing and marketing of licensed brand image funerary products such as caskets, urns, monuments and vaults, today announced it has reduced its authorized share count by 1,050,000,000 to bring the total authorized shares down to 750,000,000, dramatically reducing Common Available stock to only 555,000,000 shares.
"We are actively preparing our company for trading on the OTCBB," said James Parliament, CFO, Eternal Image. "Continuing to streamline our stock structure is an important step in this process. Further significant reductions in both common and preferred stock are possible, contingent upon future market conditions.
"It is a very active and exciting time for us," he added. "We have also received our first round of comments from the SEC on our SB-2 registration application and are in the process of responding."
The 1,050,000,000 reduction in the authorized share count reduces the authorized share count to 750,000,000 shares, of which 195,000,000 is preferred voting stock.
The new share structure will be:
Total Authorized (Number from Transfer Agent) 750,000,000
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Preferred 195,000,000
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Common Available (Total Authorized MINUS Preferred) 555,000,000
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Common Outstanding (Number from Transfer Agent) 287,428,012
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Restricted Common Shares
(Number from Transfer Agent) 101,943,919
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Float 185,484,093
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Treasury 267,571,988
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About Eternal Image
Eternal Image, founded in 2002, is headquartered in Farmington Hills, MI. The company is the first and only manufacturer and marketer of licensed brand image funerary products. Currently, the company offers urns and caskets that feature licensed images from Major League Baseball(TM) STAR TREK(TM), Precious Moments(TM), the Vatican Library Collection(TM) and Collegiate Licensing Corporation (TM) as well as pet urns featuring the American Kennel Club(TM) and Cat Fanciers' Association (TM). For more information about EI, visit www.eternalimage.net or call 1-888-6-CASKET.
SAFE HARBOR STATEMENT
Statements in this news release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking information is inherently subject t
