APNX NEWS..... "After careful consideration, our Board of Directors (the “Board”) and a Special Committee of the Board (the “Special Committee”) concluded that the costs associated with our being a “public” company are not justified by the benefits. We intend to engage in a transaction that will result in the termination of the registration of our common stock under the federal securities laws. This will eliminate the significant expense and management and staff time required to comply with the reporting and related requirements under these laws. The Transaction consists primarily of a Reverse Stock Split of our common stock whereby each 2,000 shares of our common stock will be converted to one share of our common stock, with holders of less than one whole share after completion of the Reverse Stock Split entitled to receive cash in lieu of fractional interests in an amount equal to $0.16482 per share for each pre-split share that becomes a fractional interest. As a result, stockholders owning fewer than 2,000 shares of our common stock on a pre-split basis at the close of business on ________, 2011 (the “Record Date”) will no longer be stockholders of the Company. The $0.16482 per share price to be paid for fractional shares represents a fair value for a share of our common stock as determined by the Special Committee, which was established by the Board to evaluate and review the transaction. The Special Committee based this determination upon, among other things, the fairness opinion of HVA, an independent valuation firm. Stockholders owning 2,000 or more shares of our common stock on a pre-split basis on the Record Date will not be entitled to receive cash in lieu of whole or fractional shares of our common stock resulting from the Reverse Stock Split. Following the Reverse Stock Split, we will affect a 2,000-for-1 Forward Stock Split affecting stockholders who, following the Reverse Stock Split, continue to own at least one whole share of our common stock, whereby each one outstanding share of common stock will be divided into 2,000 whole shares."
