KGRI Announces Assurances to Shareholders Related to Its Stock Structure
RVING, TX, Sep 02, 2010 (MARKETWIRE via COMTEX) -- The Kiley Group, Inc. (PINKSHEETS: KGRI) announced today that due to shareholder concerns it was making public its announcement that the Company has no plans to reverse split the Company's stock again in the foreseeable future. They further stated that at their next regularly scheduled Board of Directors meeting which is scheduled for November 30, 2010 they will introduce a resolution to place a moratorium on changes to the number of Authorized shares, the Issued and Outstanding shares, and a restriction on any additional reverse stock splits.
"At our Board Meeting in November, we will address each of these issues and notify shareholders via a press release or filings with www.Pinksheets.com of the details of the resolution," stated James Martin, President of The Kiley Group. "I am convinced that we have the consensus of the Board and will make a further announcement as soon as we have the resolution completed. We feel that our current number of free trading shares is very small for a microcap company, and we intend to keep it that way." At the present time the Company stated that its share structure is as follows: