GEAR International Posts 2nd Quarter Mixed Results, Shares Fall/New Projects Coming Soon
20 August 2012 - 7:02PM
Marketwired
GEAR International (GEAR) (PINKSHEETS:GEAR) stock fell sharply last
week amidst rumors that GEAR had cut ties with Western Sierra
Mining and would fail to report second-quarter revenue. Apart from
the revenue forecast, investors were concerned with the stock's
reacting to the news.
Dale Geck, GEAR chief executive officer, has scheduled a
conference call on Tuesday August 21st at 4pm EST to explain Gear's
silence regarding internal strategy and implementation plans after
learning that short sellers were attempting to acquire large
positions in the stock. Over the last several months, GEAR has
hired proven executives with credible experience to address its
short-term challenges with regard to marketing mining operations -
efforts too recent to have had significant impact on second-quarter
performance.
IN 2011, GEAR International emerged as a leader in the business
of identifying small-cap sustainable resource development
properties. While GEAR has not lived up to early investors' highest
estimates of early 2012 revenue, Gear has steadily positioned
itself to capitalize from its current mining interests in the
immediate future. Gear has shifted from a maverick, opportunistic
approach at boom or bust mines to a deliberate, measured approach
for sustainable extraction that will create a solid base to the
company valuation. "Gear will no longer be unduly influenced by
short term speculators and their promotional predators. We have
developed a sound foundation and one that all investors could
respect."
Safe Harbor
This press release contains statements, which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act of 1995. Those
statements include statements regarding the intent, belief or
current expectations of Gear international Inc.k and members of its
management as well as the assumptions on which such statements are
based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those contemplated by such forward-looking
statements. Important factors currently known to management that
could cause actual results to differ materially from those in
forward-statements include fluctuation of operating results, the
ability to compete successfully and the ability to complete
before-mentioned transactions. The company undertakes no obligation
to update or revise forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated events or changes to
future operating results.
Contacts: Gear International, Inc. Dale Geck President
888-550-7067info@gearii.com
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