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June 13th Summus Works, Inc. (Pink Sheets:SMMW) confirmed its VVV initiative to increase shareholder value through share buy backs and the cancellation of outstanding common stock has reduced the total of shares issued and outstanding by 700,000,000 shares. Management stated that it will continue to reduce the issued and outstanding in its ongoing campaign to enhance the Company's price per share. Company management believes "these initiatives are essential to the Company's strategy and commitment to fight with unrelenting fervor, the sideways movement of our stock, and effect the rise in price per share necessary to facilitate future mergers and acquisitions timely and effectively in respect to cost and dilution," declared Company President Dan Burgess.
The reduction is in addition to the 600,000,000 previously cancelled by the Company on June 8, 2006.
Summus Works, Inc. (Pink Sheets:SMMW) is a multi-media holding company with interests in outdoor sports, retail, e-tail, print, web, television and film. For more information on the company or its outdoor sports and media subsidiaries, visit www.summusworks.com.
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contact Information: Summus Works, Inc. Dan Burgess, 888-607-9495 summus*summusworks.com or Investor Relations Contact: SmallCapVoice.com Stuart T. Smith, 512-267-2430 Info*Smallcapvoice.com
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There's quite a bit of buying today at .0002.
I think we might just see .0003 sometime next week as long as this keeps up. Regardless, I'm holding my 4 million shares for the long haul as a gamble.
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