NuState Announces Cancellation of One Billion Shares of Common Stock
(firmenpresse) - COLUMBIA, SC -- (Marketwired) -- 12/01/14 -- NuState Energy Holdings, Inc. (OTCBB: NSEH) Today announced today, that it has completed the cancellation of One Billion ( 1,000,000,000 ) shares of common stock of NuState Energy Holdings Inc., reducing the existing share structure by approximately 28% . This decision was approved by the Board of Directors on November 28, 2014.
Kevin Yates, CEO of NuState Energy Holdings, Inc. stated "The stock Transfer Agent has notified the Company that they have received and processed the necessary documents required for cancellation and that the common shares have been cancelled. It is important to note that this is not a share retirement, but a cancellation. We feel it was important to cancel currently undervalued stock, adding to the new and exciting corporate events going forward. This decision shall be augmenting our new multi-million dollar licensing deal with Ronn Motor Group as well as the completion of audited financials, bringing NuState Energy Holdings, Inc. to a current status. We are making every effort to increase shareholder value and move towards a proper and accurate valuation of our stock".
NuState Energy Holdings, Inc. is a technology company specializing in providing pertinent, real-time information to the worldwide transportation and security industries. NuState''s proprietary software, GPSTrax, is built on an Open Architecture platform for the logistics and telematics industries.
For more information about NuState, email or call (803) 748-1309. NuState is located at 1201 Main Street, Suite 1980, Columbia, S.C. 29201.
Safe-Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company''s financing plans; (ii) trends affecting the company''s financial condition or results of operations; (iii) the company''s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company''s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company''s Forms 10-K and 10-Q filed with the SEC.
NuState
(803) 748-1309
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