Our decision to change our corporate name is based on numerous markets we have identified in which our software can be utilized. Many of these markets are outside of the automobile industry and we believe our intellectual property can be implemented
ORLANDO, Fla. (PRWEB) August 10, 2007
As a result of the reverse stock split, the number of shares of the Company's current outstanding common stock will be reduced from 106M shares to approximately 2.6M shares of outstanding common stock.
Jeff Roman, President and CEO of Rocket City Enterprises, stated, "It has always been our intention to provide the sort of capital structure that will best help us deliver shareholder value without attracting the attention of a short interest in the stock. The actions we have recently taken; initiating a proactive investor relations program and today's announcement indicate our continued efforts to put in place the foundation from which we hope to add value to our stockholders. We believe the reverse split will help make our shares more appealing to institutional investors and represents an important step toward a key goal of RocketCity, namely, the listing of our shares on one of the major stock exchanges."
"Our decision to change our corporate name is based on numerous markets we have identified in which our software can be utilized. Many of these markets are outside of the automobile industry and we believe our intellectual property can be implemented," concluded Mr. Roman.
Over the next week Rocket City Enterprises will be releasing to the public detailed information containing:
-- Status of the filing of the Company's 15c2-11 on PinkSheets.com and status as a fully-reporting public entity
-- Results of the Company's capital campaign through the sale of restricted securities
-- Information regarding acquisitions within the technology industry
-- Continued growth and progress within the online automotive marketplace
-- The spin-off of one of the Company's subsidiaries as a publicly traded entity
About Rocket City Enterprises, Inc.:
Rocket City Enterprises, Inc. is a publicly traded company (Pink Sheets:RCTY) and was formed to acquire, manage, supervise and operate corporations specializing in auction services, eCommerce, software development, technology and retail automotive operations. CompleteAuto, one of four wholly owned subsidiaries of RocketCity is a Preferred Solution Provider and offers proprietary software, technology, personnel and design solutions to hundreds of automotive dealerships around the country and additional partners throughout the marketplace.
CompleteAuto and RocketCity believe there are enormous growth opportunities in the $1 trillion automotive retailing industry and beyond. The experienced management team will continue to execute strategic initiatives to maximize operations in this marketplace with their products and services. Visit them on the web at http://www.RCAU.com to learn more.
Learn more about Complete Auto by visiting: http://www.completeauto.com
Cautionary Statement about Forward-Looking Statements
This press release contains "forward-looking statements," which are statements related to future, not past, events. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things: (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to complete acquisitions and dispositions and the risks associated therewith, and (f) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook.