HENDERSON, Nev., June 6, 2011 /PRNewswire/ -- Evader, Inc. (Pink Sheets:EVDR.pk - News) management announces steps to reduce the number of outstanding shares by more than 529 million (529,595,313). These are restricted shares being purchased from a majority shareholder. The current outstanding share structure of EVDR (see OTC Markets) http://www.otcmarkets.com/stock/EVDR/company-info sits currently at 880 million. This will be reduced by 529 million shares to be approximately 351 million outstanding shares. The authorized shares will remain undisturbed at 980 million.
EVDR expects this step to positively and significantly affect and increase the company value and establish a closer relationship with the shareholders. EVDR expects the seller and majority shareholder Videolocity Inc. to be in the position to complete the transaction and return the stock to treasury of EVDR within the next 10 business days.
This purchase and share reduction to the new outstanding shares of 351 million will consist of about 237 million free trading shares and 114 million restricted shares.
In other company news and events, as previously announced and by this current action EVDR is committed and in the process of taking the company up to a new level. Harry Wallia, EVDR' CEO said, "ASCC is constantly preparing itself for AUDIT and would definitely fulfill all NASDAQ Small Cap requirements in the current financial year itself."
This is the company game plan moving forward.
More updates to follow shortly, and frequently.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Evader, 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. Evader, Inc. cautions you that any forward-looking information provided by or on behalf of Evader, 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. Evader, 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 Evader, Inc.'s control. In addition to those discussed in Evader, Inc.'s press releases, public filings, and statements by Evader, Inc.'s management, including, but not limited to, Evader, Inc.'s estimate of the sufficiency of its existing capital resources, Evader, Inc.'s ability to raise additional capital to fund future operations, Evader, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Evader, 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. Evader, 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.
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