$ILUS Cache Elite, INC> (OTCPK:ILUS) Reducing Authorized Shares By 50,000,00
Nov 06, 2017
OTC Disclosure & News Service
Scottsdale, AZ -
CEO Derrick McWilliams stated, "We currently have 550,000,00 shares authorized with over 360,000,000 shares currently restricted and 29,357,831 in the float. With an already solid share structure, we believe this move will show our mission in increasing Company revenues and, thus protecting shareholder value. We expect to have this finalized by the end of current quarter. We believe we are beginning to see the fruits of our labors with wwwtripwitz.com based on the results; we feel confident by the second quarter of 2018 we expect existing profits to fund an upcoming expansion. That being the case, we are reducing our authorized share count to an even 500,000,000 shares. At that time, we will look at a further reduction in the authorized number or other shareholder increase maneuvers."
Safe Harbor Statement: This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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