"We feel that our current number of free trading shares is very small for a micro cap company, and we intend to keep it that way.”
Irving, TX (PRWEB) September 2, 2010
The Kiley Group, Inc. (OTC PK: KGRI) announced today that due to shareholder concerns it was making public its announcement that the Company has no plans to reverse split the Company’s stock again in the foreseeable future. They further stated that at their next regularly scheduled Board of Directors meeting which is scheduled for November 30, 2010 they will introduce a resolution to place a moratorium on changes to the number of Authorized shares, the Issued and Outstanding shares, and a restriction on any additional reverse stock splits.
“At our Board Meeting in November, we will address each of these issues and notify shareholders via a press release or filings with Pink Sheets.com of the details of the resolution,” stated James Martin, President of The Kiley Group. “I am convinced that we have the consensus of the Board and will make a further announcement as soon as we have the resolution completed. We feel that our current number of free trading shares is very small for a micro cap company, and we intend to keep it that way.”
At the present time the Company stated that its share structure is as follows:
-Authorized Shares: 5,000,000,000,
-Tradable Float: 740,200,515
Affiliates/Insiders are currently holding 66.2% of the outstanding shares which are restricted from being traded under Rule 144.
The Company also stated that it recently updated its company information on Pink Sheets.com and that it intends to continue to update the information on an ‘as needed’ basis. “Please stay tuned for additional updates and information from The Kiley Group, Inc”, stated Mr. Martin.
About The Kiley Group, Inc. The Kiley Group, Inc. is located in the heart of the Dallas, TX metroplex. The Company specializes in assisting small to medium sized companies prepare for and take their companies public. Additionally, in select situations the Company will merger or acquire companies into The Kiley Group. The company has three components: executive consulting services, public offerings consulting, and mergers & acquisitions. The Kiley Group depends heavily on building strong relationships with the management team in the companies with whom it works and depends on those relationships to assure that it creates a "win-win" situation between the Company and its clients. The Company’s goal is to evaluate each business situation separately and find the best solution for its clients based on their unique requirements.
Safe Harbor Act Disclaimer: Forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks, and uncertainties and actual results could differ from those discussed. This material is information only and is not an offer or solicitation to buy or sell the securities.