BELIZE CITY, Belize, Nov. 5, 2015 /PRNewswire/ -- The directors and management of N1 Technologies Inc. (OTC PINK: NTCHF) announced today that the company completed a 100 for 1 reverse stock split. This will re-capitalize the company with 3,027,667 shares outstanding and 50,000,000 authorized shares. The stock split will help the company align its goals for the future. "N1 Technologies Inc. is transforming its capital structure to be similar to other public companies of equal scale. The company has worked for months re-organizing as an Intellectual Property (IP) offshore holding company. We are currently making final adjustments to all phases of the business in an effort to reach this goal by the end of this year," says CEO Steve Lovern. The company intends to sell or license its Patent and Product portfolio to outside public companies that will develop and market the products independently. N1 Technologies Inc. will hold shares in the public companies that buy its patents. The company's success will ride on the performance of the stocks it receives in these patent sale and licensing deals. N1 Technologies will continue to support and fund its research and development programs for all of its patents.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "will" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
SOURCE N1 Technologies Inc.