SARASOTA, Fla., April 23, 2013 /PRNewswire/ -- Axiologix, Inc. (www.axiologix.net) (AXLX.PK), an International Technology and Services Organization focused on delivering 'Cloud' Products and Services, announced today that the Company is committed to increasing shareholder value and no reverse split for its stock.
Additionally, according to data at OTCShortreport.com (http://otcshortreport.com/index.php?index=AXLX&action=view) while over 180 million shares traded on April 16th and 17th, short volume exceeded 90 million shares or about half of the total volume.
Vincent Browne, Chairman and Chief Executive of Axiologix, Inc. said, "Following some enquiries from our shareholders relating to a potential reverse stock split, I would like to confirm we have no plans to execute a reverse split on the stock of our Company. We are committed to increasing shareholder value by building a robust and sustainable business. Therefore, we see no need and no reason to substantially decrease shareholder value through a reverse split."
Mr. Browne continued, "I have no idea why our stock is such a target for the short side of the market. We expect to continue to increase revenues quarter to quarter and organically grow our Company, and we are also pursuing strategic acquisitions, as previously announced, that will substantially increase our cash flows if completed. We will continue to build our business with our marketing campaigns, including exhibiting at future Cloud Technology trade shows and conferences as appropriate. The marketplace has a way of working itself out, and regarding the short position, our best response is by increasing our enterprise value and surprising the market with significant announcements going forward."
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About Axiologix, Inc.
Axiologix, Inc. is an International Technology and Services Organization focused on delivering Cloud-based Products and Services to small and medium sized businesses primarily in the United States and to operators globally. Axiologix is headquartered in Florida, with international operations in Dublin, Ireland. Additional information may be found at www.axiologix.net
This press release contains forward-looking statements. Words such as "expects", "intends'', "believes'', and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE Axiologix, Inc.