ZCOM NETWORKS, INC. (PINKSHEETS: ZCMN), a publicly traded company, announced today that the company is retiring 500,000,000 shares of common stock back to its treasury. This action effectively reduces the total issued and outstanding common shares by 500,000,000 shares, in line with the company's strategy to enhance shareholder value. "We are taking appropriate actions to enhance shareholder value and today's announcement is in line with this strategy. We believe our current price per share is undervalued and we will continue our best efforts to increase the company's valuation through such measures as we implement our overall plan of growth," said CEO Dr. Alex Parsinia.
For more information, visit www.zcomnetworks.net.
About Zcom Networks, Inc.: Zcom is a multi-industry holding company with diversified interests including, among others, wholly owned subsidiaries, Allied Mineral Group, Inc., a mining development, exploration and extraction company with the 160 acre gold, silver, tungsten, platinum and copper placer mining claim CLS#12 in Ridgecrest, California; Pam TV International, Inc., a talk and music program provider offering a wide range of content through an interactive multi-media broadcast platform utilizing the internet, traditional radio and satellite radio; and Super Bazar International, Inc., a shopping network company marketing and promoting multiple products on TV, radio and internet including Super Fuel and TV Box.
This release include forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risk and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, the ability to attract and retain skilled personnel. The company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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