Shares Outstanding 33,703,880 a/o Mar 31, 2012 Float 3,223,129 a/o Mar 31, 2012 Authorized Shares 950,000,000 a/o Mar 31, 2012
SUTIMCo International Posts Quarterly Earnings for Period Ending March 31, 2012
12:46p ET May 21, 2012 (PR NewsWire) SUTIMCo International, Inc. (Pink Sheets: SUTI) is pleased to announce that the Company has posted its Quarterly Earnings Report for Period Ending March 31, 2012 (http://www.otcmarkets.com/financialReportViewer?symbol=SUTI&id=81553). In addition to its Earnings, the Company has released a Letter to its Shareholders. SUTIMCo International completed the acquisition of SUTIMCo Holdings in 2011 and as a result, the Company has dramatically increased its sales and is now profitable.
In April of 2011, the Company completed the acquisition of SUTIMCo, Inc. (www.SUTI.com), a provider of management services and infrastructure for emerging technology companies based in Santa Ana, CA. As part of the agreement, AquaStar Holdings has acquired 100% of the shares of SUTIMCo Inc. in exchange for $9,500,000, payable in $4,000,000 of preferred stock in AquaStar Holdings and $5,500,000 in cash to be paid within a 24 month period from the date of closing. SUTI Holdings has presently converted $1 million of their preferred shares into common shares of the Company. The Company's first objective will be to negotiate and secure new financing to support the growth and product development of the university developed technologies that SUTIMCo manages.
SUTIMCo's early stage management services and infrastructure are provided through Business Units (parent companies that manage and support up to four portfolio companies). The mission of each Business Unit is to finance, grow and sell successful companies as they mature out of the start-up stage and become attractive to larger companies. SUTIMCo plans to operate Business Units in the areas of; Quality of Life, Alternative Energy, Food Safety, Environmental Technologies, Advanced Material and Media and Entertainment.