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UHCR - A/S Reduction confirmed! wowza!
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[QUOTE]Originally posted by Uncle Smelly: [QB] Just got an update on this one! Love the low floaters, I'll have to check out Ibub to see what they are saying... Ulysses Holding Corp. Completes Reduction of the Company's Authorized Shares Ulysses Holding Corp. (PINKSHEETS: UHCR) today announced that it has completed the reduction of the company's authorized shares with The Secretary of State of Delaware, and now has the filed stamped resolution authorizing such. The current authorized shares now are 12 Million. The 12 Million Authorized Shares consist of 2,000,000 Preferred Shares (restricted for two years in management's control with no conversion options to common) and 10,000,000 Common Shares. The company is currently reviewing several options to further reduce its Authorized Common Shares by an additional 2,000,000 to 3,000,000 shares by years end. The purpose for this additional reduction is to strive towards our objective of a share price between $1.00 and $2.00 per the current business plan now in place. "We believe this objective to be very obtainable with the current assets in place and scheduled to come into the company and other certain assets under negotiations, the goal is to have the least amount of common shares available, as not to dilute the common shareholders and positioning the company for the sale of a separate class of restricted stock to Institutional Investors," said Mr. Young President & CEO. Mr. Young also added, "We intend to raise additional acquisition and growth capital in this fashion, while achieving a share price worthy of a move to a more reputable trading arena." About Ulysses Holding Corp.: Ulysses Holding Corp. is a start-up retail optical holding company with an aggressive plan towards rapid expansion and revenue growth within the next 12 months. The company will focus only on profitable outlets with an average or better industry margins. This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. Contact: Ulysses Holding Corp. Investor Relations Tel: 1-607-387-7353 [/QB][/QUOTE]
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