Atlas Technology Reverses on Reverse Split
DOVER, N.H., Nov. 30, 2012 /PRNewswire/ -- Atlas Technology Group (OTC: ATYG) has decided to "reverse the reverse" and NOT reverse split the stock.
"We had been discussing a reverse of the stock since March," says Atlas CEO James Albion. "We wanted to avoid it, but by the end of third quarter, it looked like we would have no choice. Other circumstances have since transpired that have allowed us to back off a reverse of the stock and move forward as is."
"The best thing we can do right now," says Albion, "is get things back to the way they were, then decide about things like the name and symbol change later."
About Atlas Technology Group, Inc.
Headquartered in Dover, NH, Atlas Technology Group, Inc. is a holding company, with its primary holding being Racing Limos America, Inc.
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
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SOURCE Atlas Technology Group