Global Business Services, Inc. Announces Corporate Restructuring 10/10/2007
BEVERLY HILLS, CA, Oct 10, 2007 (MARKET WIRE via COMTEX News Network) -- Global Business Services, Inc. (PINKSHEETS: GBNS) today announced a corporate restructuring to include a 40 to 1 reverse split of the Company's Common stock and a name change to Energetics Holdings, Inc., with a symbol and Cusip change pending.
"Now and in the future, every action will be taken with the shareholder in mind. To that end, we will incorporate our 'no shareholder left behind' policy as everyone, regardless of post split share count, will have or receive a minimum of 100 shares in the restructured company," stated Rodney Peterson, President of Energetics Holdings, Inc.
The date of record will be October 19, 2007. Currently, the Company has approximately forty-eight million issued and outstanding shares.
"This is a great day for Energetics shareholders. This restructuring will enable us to gain the appropriate levels of financing to complete acquisitions currently in the negotiations stage, accelerating our emergence in the oil and gas sector," added Mr. Peterson.
About Energetics Holdings, Inc.
Energetics Holdings, Inc. is an energy resource company that is committed to evaluating energy resource properties, the acquisition of existing production and subsequently, drilling oil and natural gas reserves in the mid-continent and gulf coast regions of the continental United States.
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
Contact: Investor Relations Tom Kudlawiec 480-240-1700
SOURCE: Global Business Services
Copyright 2007 Market Wire, All rights reserved
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bilgert - those silly little monkeys changed the terms today...
/ CORRECTION - Global Business Services, Inc.In the news release, "Global Business Services, Inc. Announces Corporate Restructuring," issued Wednesday, October 10, 2007 by Global Business Services, Inc. (PINKSHEETS: GBNS), we are advised by the company that the second sentence of the second paragraph should read "To that end, we will incorporate our 'no shareholder left behind' policy as every shareholder prior to market close on October 10, 2007, regardless of post split share count, will have or receive a minimum of 100 shares in the restructured company" rather than "To that end, we will incorporate our 'no shareholder left behind' policy as everyone, regardless of post split share count, will have or receive a minimum of 100 shares in the restructured company" as originally issued. Complete corrected text follows.
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*******s, lol- glad I bought it only a couple accounts. figured there was a good chance it would go down like that. After all, it was just a PR...
Still might work out though. I didn't think CLRX would work out and it's done A-OK. I guess it'll all come down to how/if it gets worded on the daily list.
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