MediSwipe Inc. Announces Proposed Share Consolidation and Strategic Growth Objectives
22 10월 2013 - 9:30PM
Marketwired
LOS ANGELES,
CA-(Marketwired - October 22, 2013) - MediSwipe
Inc. (OTCQB: MWIP) (www.MediSwipe.com), the leader in Compassionate
Care Technology Solutions for the medicinal marijuana industry,
reported today that its Board of Directors has made a decision to
consolidate its current authorized and outstanding common shares
and reverse split the Company's shares on the basis of ten old
shares for one new share subject to approval by FINRA as outlined
in the amended Pre 14C information statement planned to be filed
today. The company's proposed plan and corporate structure after
the consolidation will leave the Company with two-hundred fifty
million (250,000,000) common shares authorized and less than
forty-five (45) million shares outstanding.
After carefully considering MediSwipe's growth and strategic
objectives, the Company believes that a share consolidation could
provide significant benefits to MediSwipe and its shareholders.
This proposed change in corporate structure may open the door to a
large base of potential new investors and provide the necessary
pricing and capital structure to attract potential acquisitions,
institutional sponsorship and may allow for an eventual listing on
a higher exchange. This action will have no impact on the company's
value or future cash flow.
While there are no guarantees, there may be important benefits
that the proposed consolidation could provide, including:
- A higher post consolidation price per share could make
MediSwipe eligible for investments by a significant base of
potential new investors that who otherwise could not invest below a
minimum per share value.
- A larger investor pool may also result in a possible increase
in trading volume.
- A higher post consolidation price per share could also improve
the company's ability to pursue a dual listing on a major exchange
and finance in the market, if warranted in the future.
- An increase in the share price in absolute dollar terms may
improve the market perception of MediSwipe's stock.
- The proposed consolidation could also align the company's
number of outstanding shares relative to its peers.
"I would like to first begin by thanking our shareholders for
your patience and support during this chapter of the company's
history. While many challenges remain, I am confident that we are
close to turning this company around and am confident this action
will initiate shareholder value back to our stock over the long
term. I will continue to devote myself to the task of providing
this company with the tools needed for its success.
The major area of importance for us is the proper capitalization
of MediSwipe and its subsidiaries. With the recent spin-off of 800
Commerce, issuance of the dividend and our continued increase in
sales of our beverage division and growing presence in Colorado as
part of the new recreational market, I am confident that we are on
the right path to bringing this company to the level it
deserves.
We have attempted to bring shareholder value in every way
possible within our sector, yet our present capitalization table
simply will not allow us to do so. By completing this reverse stock
split, we expect to gain broader access to the institutional
investment community and believe this strengthened position will
provide the availability of common stock necessary to fund future
transactions which could enable us to become a more diversified
biotechnology company," stated B. Michael Friedman, CEO of
MediSwipe.
About MediSwipe Inc.
MediSwipe Inc. (www.MediSwipe.com) provides innovative patient
solutions for electronically processing transactions within the
healthcare industry. MediSwipe provides terminal-based service
packages and integrated Web Portal add-ons for physicians, clinics,
hospitals and medical dispensaries that include: digital patient
records, Electronic Referrals, Credit/Debit Card merchant services,
and wellness products including beverages Chillo and C+Swiss.
FORWARD-LOOKING DISCLAIMERThis press release may contain certain
forward-looking statements and information, as defined within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, and is subject to the
Safe Harbor created by those sections. This material contains
statements about expected future events and/or financial results
that are forward-looking in nature and subject to risks and
uncertainties. Such forward-looking statements by definition
involve risks, uncertainties and other factors, which may cause the
actual results, performance or achievements of MediSwipe Inc. to be
materially different from the statements made herein.
"Safe Harbor" Statement: The statements in the press release
that relate to the company's expectations with regard to the future
impact on the company's results from new products in development
and any other statements not constituting historical facts are
"forward-looking statements," within the meaning of and subject to
the safe harbor created by the Private Securities Litigation Reform
Act of 1995. Since this information may contain statements that
involve risk and uncertainties and are subject to change at any
time, the company's actual results may differ materially from
expected results. This document may contain forward-looking
statements concerning the Company's operations, current and future
performance and financial condition. These items involve risks,
contingencies and uncertainties such as product demand, market and
customer acceptance, the effect of economic conditions,
competition, pricing, the ability to consummate and integrate
acquisitions, and other risks, contingencies and uncertainties
detailed in the Company's SEC filings, which could cause the
company's actual operating results, performance or business plans
or prospects to differ materially from those expressed in, or
implied by these statements. The Company undertakes no obligation
to revise any of these statements to reflect the future
circumstances or the occurrence of unanticipated events.
Contact: MediSwipe Inc. 248.262.6850www.MediSwipe.com
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