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SMALL BUSINESS
141 Capital Announces No Reverse Split
Business Wire
141 Capital, Inc. (OTCPK: ONCP).
141 Capital, Inc.'s management announced today that it has no current or
future plans to reverse split its common stock.
Errol Stone, CEO, stated: “Many shareholders have asked whether 141 has
any plans to reverse split its stock. I can categorically assure our
shareholders that we do not have any plans to affect a reverse split at
this time. Rather, we are actively implementing a non-dilutive plan to
reduce the common shares issued and outstanding.” As previously
announced, the company’s principals have directly contributed a total of
310,000,000 shares of common stock to the treasury to be canceled, in
addition to contributions of 210,141 shares of Series A Convertible
Preferred Stock which, when converted, are the equivalent to 550,811,833
shares of common stock. Furthermore, the Board previously authorized the
acceptance of up to 620,000,000 million shares from Messrs. Strickland
and Stone. As these measures would indicate, the Board of Directors is
firmly dedicated to the enhancement of shareholder value, in both the
short term while our technology development continues, and in the long
term throughout the company's growth.
Mr. Stone also noted that any further reductions in the company's common
shares issued and outstanding will be announced. It will also be
announcing forthcoming business developments shortly.
About 141 Capital, Inc. (
www.141capital.net)
141 Capital, Inc., is a publicly traded company based in Chicago. Its
primary operations involve commodity trading for its own account
utilizing trading systems for trading financial products listed on the
world's derivatives exchanges.
141 Capital encourages its shareholders to email any and all questions
and suggestions. We usually respond to questions after business hours
and understand it may take several days to receive a response. Email:
info@141capital.net
.
Copyright Business Wire 2009
2009-11-23 08:55:00
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