Billy Martin's USA Announces Buyback of Company Stock Tuesday May 17, 9:31 am ET
NEW YORK, May 17, 2005 (PRIMEZONE) -- Billy Martin's USA, Inc. (Other OTC:BLYM.PK - News), the upscale apparel and accessory brand with a 26-year history and heritage, announced today that the company will immediately begin to aggressively buy back BLYM stock.
ADVERTISEMENT According to CEO Doug Newton, who founded the company's first ``western-lifestyle'' retail store in New York City in 1978, ``Our stock is one of the best buys in the market today, and we believe the best investment we can make is in ourselves.''
With 175 million shares in the float, out of a total of 340 million issued, Newton said, ``BLYM is selling at a fraction of its potential value, and we believe that buying our stock will be both a bargain and blessing for us now and in the future. We also believe the buy back program can maximize return for all our shareholders while increasing the value of BLYM stock.''
``Stock prices aside,'' Newton said, ``our shareholder return over the long haul ultimately will be determined by our operating performance and the execution of our business strategies. But right at the moment, our stock price is undervalued, and so, like making horse shoes, we need to strike while the iron is hot.''
About Billy Martin's USA
Billy Martin's USA, Inc. is a developer, manufacturer, retailer and licensor of branded apparel and related merchandise that represents an American theme and western-lifestyle.
Statements about the company's future expectations, including future revenues and earnings, and all other statements in this news release other than historical facts are ``forward-looking statements.'' Since these statements involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from the company's plans if its assumptions prove to be incorrect, or, for a variety of other reasons.
Billy Martin's USA, Inc. is not a reporting company registered under the Securities Act of 1934. Shares of its stock trade on the Pink Sheets under the symbol ``BLYM.''
Contact:
Billy Martin's USA, Inc. Doug Newton, CEO 212-861-3100 or 760-324-6834 doug@billymartin.com www.BillyMartin.com
Source: Billy Martin's USA, Inc.
BuyPennywise
posted
Up 250% today... strong volume, still rising. GLTA
nomed
posted
thankz BUY!!
BuyPennywise
posted
ooops, too quick on the math.... actually topped out at 176% gain (.0095), now retreating.
I hope some were able to get green. Thanks nomed
chaw63
posted
This one should hit pennyland in the next few weeks.
posted