ICR Systems, Inc. Announces Symbol Change
ICR Systems, Inc. (PinkSheets: ICRM) has been issued a new symbol to better reflect the corporate changes, including name change, released last week.
ORLANDO, FLORIDA -- November 21, 2002 -- ICR Systems, Inc. has received confirmation from Nasdaq that its symbol has been changed to ICRM. This symbol better reflects the companys name change that was announced November 14, 2002.
Due to the companys name and symbol change, some news services do not show last weeks press release. To ensure that investors have the opportunity to find the information from that release, the following excerpt is a recap from the November 14th press release.
NFI Holdings, Inc. has recently undergone significant corporate changes. The companys Chairman of the Board and President, Mr. James Jeppson, has resigned from the company. Mr. Linwood C. Meehan III has been named the new Chairman of the Board, President and Chief Executive Officer. The company intends to begin a new strategy of growth immediately.
The first order of business under the new management was to change the name of the company to ICR Systems, Inc. ICR is an acronym for Industrial Commercial Residential. ICR Systems, Inc. intends to build a network of Contracting, Manufacturing and Service companies through a conservative acquisition strategy of acquiring established and profitable businesses at prices that will enable the company to maintain future growth.
In connection with the corporate restructuring, the company effected a 4 for 1 forward split of its issued and outstanding stock for holders of record as of November 8th, 2002.
The second order of business under the new management was the companys first acquisition. The company acquired Meehan Electric Company, Inc., a Georgia-based Electrical Contracting firm. Meehan Electrics core operations are in the Industrial, Commercial, D.O.T., Residential and Service categories. Over the past 40 years, Meehan Electric has worked throughout Georgia, as well as much of the Southeastern U.S.
Investor Relations: First Capital Investors
1080 Woodcock Road Jennifer B. Crone
Suite 276 407-898-1868
Orlando, FL 32803 IR@ICRSYSTEMSINC.COM
This press release may contain forward-looking statements. The words "estimate", "possible" and "seeking" and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
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