HENDERSON, NV, Oct 23, 2009 (MARKETWIRE via COMTEX) -- Cardio Infrared
Technologies, Inc. (PINKSHEETS: CDOI) (www.cardio-cor.com) today announced that
its Board of Directors has authorized a reduction of the authorized shares from
5,000,000 to 1,500,000.
"The Board took the action to reduce the amount of authorized stock to more
accurately reflect the capitalization of the company. This lower authorized is a
one third reduction in the authorized shares for the company. The board believes
that this reduction in authorized shares will facilitate the company's ability
to attract companies for acquisition and expansions. The company currently has
47,181,495 shares issued with 4,714,172 free trading shares currently issued and
outstanding," said Wayne Bailey, Chief Executive Officer of Cardio Infrared
Technologies, Inc. "We continue to pursue our acquisition and growth plan and
believe this 1/3 drop in authorized will facilitate our financial plans for the
company."
About Cardio Infrared Technologies, Inc.
Cardio Infrared Technologies, Inc. is a technology and marketing company, which
is focused on developing the revolutionary and evolutionary process of combining
exercise equipment with medical benefits that go far beyond the normal benefits
of standard exercise equipment. Cardio Infrared Technologies, Inc. is committed
to continue to market this equipment to the exercise and medical markets and to
aggressively expand the market to every country around the world. The equipment
has already been featured on "Good Morning America" and "The View." Cardio
Infrared Technologies, Inc. also has an aggressive growth plan that includes
acquisitions and development of innovative new equipment and programs in the
exercise and medical industries.
