AMSZ news. Float Lock Down, too.
AcuMedSpa Holdings, Inc. to Initiate Share Buyback Program
7:00a ET July 27, 2010 (Market Wire)
AcuMedSpa Holdings, Inc. (PINKSHEETS: AMSZ), a provider of Medical Aesthetic, Spa and Acupuncture services, announced it is initiating a share buyback program in order to lower the outstanding share count and increase shareholder value.
The company's board of directors is reviewing and wants to purchase shares of AcuMedSpa on the open market and would like to retire those shares back into the treasury. The goal of the program is to purchase up to 10 million shares which will be retired immediately in order to reduce the outstanding shares by the total amount of shares purchased. The current outstanding share total is 146,610,679.
In recent months the company has taken important steps to improve shareholder value by reforming the share structure. Both the outstanding and the authorized shares have been reduced, and decision making power has been given to shareholders over all major decisions including all future share structure changes.
AcuMedSpa Holdings President Gregory Antoine, stated, "This share buyback program is the latest in a series of actions we have taken in our ongoing effort to improve shareholder value. Many small company investors have grown accustomed to share dilution, but we are in effect doing the opposite of dilution by eventually reducing the outstanding shares." Mr. Antoine continued, "Reduced outstanding shares will benefit the shareholders in several ways and improves the company's financials. Calculating our earnings with a lower outstanding share total will increase our earnings per share and reflect better on the balance sheet."
Please follow our progress on twitter: http://twitter.com/acumedinc
For additional info please visit our website: http://www.acumedspa.com/
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 and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and AcuMedSpa Holdings, Inc. takes no obligation to update such statements.