HENDERSON, NEVADA--(Marketwire - 02/22/11) - Videolocity International, Inc. (PINK SHEETS:VCTY - News) (www.videointernationalcorp.com) has announced that the sale of its Avtar Singh Construction (ASCC) subsidiary to Evader Inc. has been finalized.
VCTY now continues with a single main subsidiary: Tactician University. This progressive management education, leadership training and think tank venture tackles prevalent issues in the Chinese economy and society. It continues to grow, offer insights and positively influences China's decision makers.
In other news, VCTY management has been made aware of certain rumours which are currently circulating about a possible reverse stock split of its common shares. VCTY management is using this opportunity to dismiss these rumours as completely untrue. No such split is being considered for the foreseeable future. Management is also aware that its shareholders are seeking an uplift on the share valuations. The company has made this its top priority. Management has several options at its disposal and offers which it's currently entertaining.
Details of this forthcoming uplift and the use of ASCC proceeds from the sale, including financial details, will be released shortly via OTC Markets filing service, updated Adequate Disclosure and a separate news release.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Videolocity International Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. Videolocity International Inc. cautions you that any forward-looking information provided by or on behalf Videolocity International Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Videolocity International Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Videolocity International Inc.'s control. In addition to those discussed in Videolocity International Inc.'s press releases, public filings, and statements by Videolocity International Inc.'s management, including, but not limited to, Videolocity International Inc.'s estimate of the sufficiency of its existing capital resources, Videolocity International Inc.'s ability to raise additional capital to fund future operations, Videolocity International Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Videolocity International Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Videolocity International Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment