Polaris International Holdings, Inc. Releases Financial Statements and Announces Stock Split
LOS ANGELES, July 27, 2012 /PRNewswire/ -- Polaris International Holdings, Inc. (OTC: PIHN), a global IT outsourcing services company announced today that the Company has released its 2011 Annual Financial Statement and its 2012 First and Second Quarter financial statements with the Attorney Letter which can now be viewed at OTCMarkets.com. This brings the company's status with OTCMarkets.com to "Current Information." Additionally, the Board of Directors and majority shareholders have approved a 1-for-2000 reverse split of its common stock. The reverse split has been cleared by FINRA and will be reflected in the market effective Monday, July 30, 2012. On that day and the Company's stock symbol will be appended with a "D" which will remain for the next 20 days to signify the stock is trading post-split.
"The updated financial statements and the actions by the Board and majority shareholders are a clear indication of our ongoing commitment to reorganizing the stock and the company in order to take full advantage of both the long and short term opportunities that lay ahead. The reverse stock split is the just first of several positive steps we're taking in order to restore market liquidity in the stock," said Kuni Misawa, President and CEO of Polaris International Holdings, Inc. "We'd like to remind all shareholders that a reverse split doesn't change anyone's relative ownership in the Company. It simply adjusts the stock price in the market to better position it in an optimal trading range."
Safe Harbor: Statements regarding financial matters in this communication, other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy, mergers and acquisitions, and all other forward-looking statements be subject to the Safe Harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially form the expected results.
Polaris International Holdings, Inc.
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