Nov 26 2010
Solos Endoscopy, Inc. (Pink Sheets: SNDY) is pleased to announce that the Company has completed a capital restructuring initiative as part of a previously announced recapitalization plan in order to position itself for growth over the next twelve months. The restructuring involved a common stock consolidation that took effect November 24, 2010. As a result of this announcement, the stock symbol will be changed temporarily to SNDYD for a period of 20 business days after November 24, 2010.
The recapitalization plan allows Solos greater flexibility to utilize the assets of the Company in the future for corporate purposes; including raising capital, acquisitions or employee compensation, with limited dilution of existing stockholder voting rights.
"We believe our restructuring initiative represents a balanced approach to refining the Company's capital structure on behalf of our stockholders, while repositioning Solos for sustainable growth in earnings over the long- term," stated Bob Segersten, President of Solos Endoscopy, Inc.
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