Somatic Systems Inc (SMAS)

[Trons]

From the Presswire:

Aug 26, 2008 (M2 PRESSWIRE via COMTEX) -- Stocks in the news: Somatic Systems, Inc. (Other OTC:SMAS.PK), TomoTherapy Incorporated (TOMO), Del Global Technologies (DGTC), Ivivi Technologies, Inc. (NasdaqCM:IVVI)

August 25, 2008 - Somatic Systems, Inc. (Other OTC:SMAS.PK) announced today that it has completed its first round of share buybacks and retired one billion shares of its common stock. The cancellation of these shares will become effective by the end of the day, and is expected to increase shareholder value considerably.

Prior to retiring these shares, Somatic Systems had approximately 8 billion shares of common stock issued and outstanding. Cancellation of these shares brings the structure down to approximately 7 billion shares, reducing the company's common stock by over 12%.

The sizable elimination of shares comes less than 3 business days after Somatic Systems announced it would begin a massive share acquisition and cancellation program, to restructure the company's capital and grow share price without conducting a reverse split of the stock.

The company stated its intention to continue to acquire and retire additional shares. "This significant cancellation of shares is just the beginning," stated Somatic Systems CEO Steven Aronstein. "In addition to the strong efforts we are making to grow our market value by building our business through expansion and aggressive promotion and strategic contracts, we believe that removing as much as half our shares can help grow our value exponentially. We are just getting started."

Somatic Systems stated it will continue to announce the acquisition and retirement of shares as they are pending or have been completed in the coming weeks.