Quote & News
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Recent News & Events
July 21, 2011
Global Water Technologies completes FINRA filing
INDIANAPOLIS, July 21, 2011 -- Global Water Technologies announces that it has completed its filing with the Financial Industry Regulatory Authority (FINRA) requesting its previously announced reverse split on a one for one hundred basis. The board approved such action upon the written consent of a majority off its shareholders and the company continues to work with its legal counsel and transfer agent to complete the process in a timely manner.
The company believes the reverse split and the recent upgrade on the OTC Markets will benefit both existing and new shareholders by improving visibility to capital markets, increasing investor interest and providing access to funding opportunities on favorable terms. The company also expects to avoid future problems resulting from brokers that limit trading in stocks at less than $0.001.
"We have reviewed this matter carefully and believe it is an important step that will allow Global Water Technologies to grow in a successful manner," said CEO Erik Hromadka. "We remain committed to developing new business opportunities related to innovative water technologies and continue working to create value for our existing shareholders."
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.