posted
ST. PETERSBURG, Fla.--(BUSINESS WIRE)--July 28, 2005--Commonwealth American Financial Corp. (Pink Sheets:CWMF - News) announced yesterday that the Board of Directors of Commonwealth American Financial Group, Inc. had voted to forward split the outstanding shares of the Common Stock at a ratio of fifteen (15) shares for every one hundred (100) shares of common stock held on August 31, 2005. The company has received several inquiries regarding some confusion pertaining to this announcement, the company would like to clarify that all shareholders of record on August 31, 2005 will receive an additional 15 shares of common stock for every 100 shares they own.
"We apologize for any confusion this may have caused and would like to thank our current and future shareholders for their understanding in this matter," said Damian Guthrie, President.
Commonwealth American Financial Corp. will invest in land development projects either as developer, joint venture partner, and lender or provide mezzanine financing opportunities. The company will also grow by mergers or acquisitions in related industries.
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: Commonwealth American Financial Corp., St. Petersburg Damian Guthrie, 786-246-1077 Fax: 727-895-8735
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
