SOURCE:
Somatic Systems, Inc.
2008-08-25 07:30:00
NORTHAMPTON, MA–(EMWNews – August 25, 2008) – Somatic Systems, Inc. (
announced today that it has completed its first round of share buybacks and
retired one billion shares of its common stock. The cancellation of these
shares will become effective by the end of the day, and is expected to
increase shareholder value considerably.
Prior to retiring these shares, Somatic Systems had approximately 8 billion
shares of common stock issued and outstanding. Cancellation of these
shares brings the structure down to approximately 7 billion shares,
reducing the company’s common stock by over 12%.
The sizable elimination of shares comes less than 3 business days after
Somatic Systems announced it would begin a massive share acquisition and
cancellation program, to restructure the company’s capital and grow share
price without conducting a reverse split of the stock.
The company stated its intention to continue to acquire and retire
additional shares. “This significant cancellation of shares is just the
beginning,” stated Somatic Systems CEO Steven Aronstein. “In addition to
the strong efforts we are making to grow our market value by building our
business through expansion and aggressive promotion and strategic
contracts, we believe that removing as much as half our shares can help
grow our value exponentially. We are just getting started.”
Somatic Systems stated it will continue to announce the acquisition and
retirement of shares as they are pending or have been completed in the
coming weeks.
About Somatic Systems, Inc.
Somatic Systems is the worldwide center for Clinical Somatics™, the
groundbreaking drug-free, non-surgical approach to pain relief. This
proprietary system uses natural, non-invasive movement techniques —
conducted through one-hour hands-on sessions, therapeutic exercises
classes, and home exercises lasting as little as 5 minutes a day — to
relieve pain and limitation resulting from accident, trauma and repetitive
stress, including back pain, knee pain, joint problems, carpal tunnel
syndrome, TMJ, scoliosis, bursitis, sciatica, headaches, tendonitis and
more. Clinical Somatics™ also provides performance gains and injury
prevention for casual and professional athletes.
Somatic Systems is pursuing a 3-part growth strategy, consisting of a
nationwide rollout of pain management Somatics Clinics; increased
production and distribution of therapeutic videos, books, and other retail
self-help Somatics Products; and expanded Somatics Training Programs to
supply Clinic practitioners serving medical and orthopedic professionals
and institutional and corporate programs. The company operates a suite of
web sites offering Somatics information, products, resources, and
opportunities, at www.somatics.org.
Safe Harbor Act: This release includes forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 that involves 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 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.
Contact: For more information visit http://www.somatics.org or contact: Investor Relations 1 877 586-2555 |
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