BASKING RIDGE, N.J., Aug. 4 /PRNewswire-FirstCall/ -- Analytical
Surveys, Inc. (OTC Bulletin Board: ANLT), a technology company that
converts recycled plastics into high value-added structural products used
in commercial applications, today announced that its board of directors and
shareholders have approved a name change to Axion International Holdings,
Inc. and a 1-for-4 reverse stock split of its outstanding common stock. As
a result of the name change and reverse stock split, beginning on August 4,
2008, the Company's common stock will trade on the Over-the-Counter
Bulletin Board under its new trading symbol "AXIH" (CUSIP No. 05462D 101).
The reverse stock split affects all shares of common stock and
convertible securities of the Company outstanding immediately prior to the
effective time of the reverse split. Pursuant to the reverse stock split,
every four shares of the Company's common stock will be combined into one
share of the Company's common stock and fractional shares will be rounded
up to the nearest whole share.
Jim Kerstein, Chairman and CEO, stated: "Recent news continues to prove
the strength of our business plan. The 1 for 4 shares reverse stock split
is intended to enhance investor's visibility into the Company's potential
future profitability on a per share basis while also providing more useful
information in making period-to-period comparisons. The Company also
believes that a higher share price could broaden its appeal to a wider base
of investors allowing it to potentially qualify for listing on a larger
stock exchange in the future, improving stockholder value."
About Axion International
Axion International (www.axionintl.com) is positioned as an important
structural product provider of alternative infrastructure and building
products. Axion operates from a "green" base, developing structural
products made from recycled consumer and industrial plastics that would
otherwise be discarded into landfills. Axion International's patented
technologies, developed in collaboration with scientists at Rutgers
University, allow for products that are extremely strong, durable, flexible
in use, and low maintenance. Traditional construction suppliers of wood,
steel, and concrete cannot compete with the flexible design features of
structural plastic. Manufactured from consumer and industrial waste
plastics, Axion's upcycled products are an economic alternative to
traditional building materials.
This release contains "forward-looking statements" for purposes of the
Securities and Exchange Commission's "safe harbor" provisions under the
Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the
Securities Exchange Act of 1934. These forward-looking statements are
subject to various risks and uncertainties that could cause Analytical
Surveys' actual results to differ materially from those currently
anticipated, including the risk factors identified in Analytical Surveys'
filings with the Securities and Exchange Commission.
SOURCE Axion International Holdings, Inc.