ChineseInvestors.COM Announces Completion of Its Regulation D Offering and Stock Repurchase
LOS ANGELES, March 5, 2012 /PRNewswire/ -- Mr. Paul Dickman , CFO of ChineseInvestors.COM, an Indiana Corporation (OTCBB: CIIX) announced that the Company has achieved the full raise target of its Regulation D private placement ($2,000,000) less than one month from its initial Reg. D filing on February 6, 2012.
The Company applied a portion of the proceeds of the private placement to retire its only long term debt instrument (to a prior shareholder) fifteen months ahead of schedule as related to a common stock and options repurchase agreement initiated in January of 2010. Through two separate repurchase events (January 2010 and September 2011) the Company retired 20,761,817* shares of common stock and eliminated 2,500,000* outstanding purchase options at a cost to the Company of $470,000 over that same time period. Prior to the Regulation D offering (as filed with the SEC on February 6, 2012) this represented just over 37% of the Company's outstanding issued shares. This repurchase event reduced significantly the number of common stock shares outstanding in addition to eliminating a favorably priced options agreement.
* Calculated on a post-reverse stock split basis as executed in late September of 2011
Safe Harbor Statement
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues as well as any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commissions (SEC) including but not limited to information as contained within the Company's most current quarterly reports, annual reports, and or other such filings. Furthermore, the Company disclaims any intention or obligation to update or revise any such forward looking statements, whether as a result of new information, future events, or otherwise.
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