Expo Holdings Completes Share Restructuring
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NORTH WILKESBORO, NC, May 27 (MARKET WIRE) --
Expo Holdings, Inc. (PINKSHEETS: EXPH) completes share restructuring.
The company has 896,280,805 outstanding shares currently, and has an
authorized share count of 1,000,000,000 (1 billion).
James D. Brown, CEO, stated, "Recently, the company temporarily gagged its
transfer agent while it completed share restructuring. The officers of the
company have now converted their restricted preferred shares to restricted
common shares. To date, the officers have sold no (ZERO) shares, and
intend to hold the restricted shares for the foreseeable future. The
company has no plans for a reverse split, and has no intentions of
increasing its authorized share count."
Glenn S. Harrs, President, stated, "I am pleased to convert my preferred
shares to restricted common shares, and hold them alongside of our trusted
shareholders. Our long term prospects are very good, and I fully expect
our fair market value to recover to a point more in line with the
company's expectations. Additionally, we have authorized the transfer
agent to resume normal reporting activity."
Brown also stated, "We have raised funds in the recent past. We announced
we would raise the funds in advance via press release, and we have now
completed that raise. These funds have strengthened our balance sheet, and
allowed us flexibility during a tough cash flow period. We recently
completed a profitable first quarter, and fully expect cash flow from
operations to strengthen over the next 6 months. Reasonable gross profits
and net profits are expected in FY 2009. Short term demand for our
products continues to strengthen."
The company will soon post its 2008 financials to pinksheets.com, and meet
the requirements to remove the Stop Sign icon. 1st Quarter 2009 financials
will also be posted within the near future.
About Expo Holdings, Inc.
http://www.expoholding.com
Expo Holdings operates in North Wilkesboro, NC. D&D Displays is a wholly
owned subsidiary of Expo Holdings, which specializes in custom cabinetry
and high end store fixtures for retail vendors such as Newell-Rubbermaid,
Inc., Bosch Tool Corporation, Kronotex, USA, and Lowe's Companies. D&D
Displays has been in operation since 2000 and joined Expo Holdings in
2006.
This release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 27E of the
Securities Act of 1934. Statements contained in this release that are not
historical facts may be deemed to be forward-looking statements.
Investors are cautioned that forward-looking statements are inherently
uncertain. Actual performance and results may differ materially from that
projected or suggested herein due to certain risks and uncertainties
including, without limitation, ability to obtain financing and regulatory
and shareholder approvals for anticipated actions.
Contact:
J.D. Brown
D&D Displays, Inc.
336-667-8765
Copyright 2009, Market Wire, All rights reserved.
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