Summus Works, Inc. Board of Directors Approves $748,000.00 Buy Back Monday June 12, 9:14 am ET
DENVER--(BUSINESS WIRE)--June 12, 2006--Summus Works, Inc. (Pink Sheets:SMMW - News) announced its Board of Directors at a special meeting unanimously approved a proposal to finance the purchase of up to $748,000.00 of the Company's outstanding common stock in respect to the recent "SqueezeTrigger" price determined by ********** of $0.00022 per share. The Company will release an updated "SqueezeTrigger" report from **********. ADVERTISEMENT
The Board declared the resolution in its commitment to "increase shareholder value, finalize pending (and facilitate future) acquisitions, and eliminate once and for all the one-sided quote and sideways movement of the Company's stock." The course of action is further justified, the Board noted, by information gathered from ********** in conjunction with that of NOBO/OBO reports acquired by the Company.
"We believe the share price does not accurately reflect the intrinsic value of our company and its business prospects. We share the concern of our shareholders regarding the low price per share and are resolutely determined to combat it through action utilizing personal resources," declared Summus Works President Dan Burgess. "All information points to this action as necessary to increase the price per share requisite to the Company's VVV plan for growth," he concluded.
Summus Works, Inc. (Pink Sheets:SMMW - News) 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.
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Good morning Repoman - Wow took you only 2 minutes to start bashing.You must be slowing down in you old age.Usually you are on these stocks faster then flies on S***
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