shakerzz SMAA_.12 Million Share Buy-Back Program great news$$
SMA Alliance, Inc. Announces Up to 12 Million Share Buy-Back Program
2011-12-14 07:30 ET - News Release
NASHVILLE, TN -- (MARKET WIRE) -- 12/14/11
SMA Alliance (PINKSHEETS: SMAA) is pleased to announce that the Board of Directors unanimously voted to purchase up to 12 Million shares of its issued and common stock as part of a share buy-back program pursuant to Rule 10b-18. The Company's Chief Executive Officer, Anthony Baker, will be directing the program which will run from February 1st, 2012 to December 31st, 2012, or until the share limit has been reached. While the Company is not under any obligation to repurchase shares under this program, SMA Alliance is excited about the program and believes it will enhance the value of the investment focus for further acquisitions, funding, and overall growth of the company for years to come.
Anthony Baker, C.E.O. of SMA Alliance, stated, "These actions should demonstrate our belief, confidence, and vision for the long-term growth of the company and our commitment to returning capital to our shareholders."
The full details of the buy-back program will be finalized and set forth in the offer letter which will shortly be sent to shareholders pending final approval from counsel and will be filed with appropriate regulatory channels through an 8k.
About SMA Alliance, Inc.
SMA Alliance, Inc. is a software and application company aggregating local buying demand for businesses. Specifically, SMA Alliance, Inc. leverages its technology and applications in internet focused lead generation, which drives live buyers to retailers through conversion of individual online product interest into buyers soliciting purchase from retailers instantly.
SMA Alliance currently is focused on the automobile industry, providing automobile retailers 10 to 100 times buying demand on a daily basis through application of proprietary technology and managed systems.
Safe Harbor Statement:
This news release includes forward-looking statements pertaining to future anticipated projected plans, performance and developments, intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Any statements on this news release that are not statements of historical fact should be considered forward-looking statements. These forward-looking statements generally can be identified by phrases such as "believes," "expects," "anticipates," "foresees," "forecasts," "estimates," "intends," or other words or phrases of similar import. Similarly, statements in this news release that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
Contact:
Anthony Baker
CEO
949-891-7279
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