/ CORRECTION - Cardio Infrared Technologies, Inc. Announces Reduction in the Amount of Authorized Stock
24 Oktober 2009 - 2:10AM
Marketwired
In the news release, "Cardio Infrared Technologies, Inc. Announces
Reduction in the Amount of Authorized Stock," issued earlier today
by Cardio Infrared Technologies, Inc. (PINKSHEETS: CDOI), we are
advised by the company that the phrase "a reduction of the
authorized shares from 5,000,000 to 1,500,000" should read "a
reduction of the authorized shares from 5,000,000,000 to
1,500,000,000" in the first paragraph. Complete corrected text
follows.
Cardio Infrared Technologies, Inc. Announces Reduction in the
Amount of Authorized Stock
HENDERSON, NV -- October 23, 2009 -- Cardio Infrared
Technologies, Inc. (PINKSHEETS: CDOI) (www.cardio-cor.com) today
announced that its Board of Directors has authorized a reduction of
the authorized shares from 5,000,000,000 to 1,500,000,000.
"The Board took the action to reduce the amount of authorized
stock to more accurately reflect the capitalization of the company.
This lower authorized is a one third reduction in the authorized
shares for the company. The board believes that this reduction in
authorized shares will facilitate the company's ability to attract
companies for acquisition and expansions. The company currently has
47,181,495 shares issued with 4,714,172 free trading shares
currently issued and outstanding," said Wayne Bailey, Chief
Executive Officer of Cardio Infrared Technologies, Inc. "We
continue to pursue our acquisition and growth plan and believe this
1/3 drop in authorized shares will facilitate our financial plans
for the company."
About Cardio Infrared Technologies, Inc.
Cardio Infrared Technologies, Inc. is a technology and marketing
company, which is focused on developing the revolutionary and
evolutionary process of combining exercise equipment with medical
benefits that go far beyond the normal benefits of standard
exercise equipment. Cardio Infrared Technologies, Inc. is committed
to continuing to market this equipment to the exercise and medical
markets and to aggressively expand the market to every country
around the world. The equipment has already been featured on "Good
Morning America" and "The View." Cardio Infrared Technologies, Inc.
also has an aggressive growth plan that includes acquisitions and
development of innovative new equipment and programs in the
exercise and medical industries.
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
The words or phrases "would be," "would allow," "intends to," "will
likely result," "are expected to," "will continue," "anticipate,"
"expect," "estimate," "project," "indicate," "could,"
"potentially," "should," "believe," "considers," or similar
expressions are intended to identify "forward-looking statements."
Actual results could differ materially from those projected in the
forward-looking statements as a result of a number of risks and
uncertainties. These include the company's historic lack of
profitability, end user customer acceptance and actual demand,
which may differ significantly from expectations, the need for the
company to manage its growth, the need to raise funds for
operations and other risks within the regulation of the industry.
Statements made herein are as of the date of this press release and
should not be relied upon as of any subsequent date. The Company's
past performance is not necessarily indicative of its future
performance. The Company does not undertake, and the Company
specifically disclaims any obligation, to update any
forward-looking statements to reflect occurrences, developments,
events or circumstances after the date of such statement.
Contact: Wayne Bailey Email Contact company website
www.cardio-cor.com
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