JERSEY CITY, N.J., Jan. 13, 2014 /PRNewswire/ -- Single Touch Systems, Inc. (OTC BB: SITO), a technology based mobile media solutions provider, today announced that for the quarter ended December 31, 2013, the Company spent $150,413 to repurchase 285,471 shares of its Common Stock at an average price of $0.5269 per share under its Stock Repurchase Program.
The Company announced in October 2013 that its Board of Directors approved the purchase of up to 20 million shares of its common stock in open market transactions or private purchases. Shares bought back under the Stock Repurchase Program are to be funded from available working capital and are retired, and returned to the Company's authorized capital.
Single Touch will continue to provide updates to its investors on the Stock Repurchase Program.
About Single Touch Systems, Inc.
Single Touch Systems, Inc. is a technology based mobile solutions provider serving businesses, advertisers and brands. Through patented technologies and a modular, adaptable platform, Single Touch's multi-channel messaging gateway enables marketers to reach consumers on all types of connected devices, with information that engages interest, drives transactions and strengthens relationships and loyalty. For more information about Single Touch Systems, Inc. visit: www.singletouch.net
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, our reliance on brand owners and wireless carriers, the possible need for additional capital as well other risks identified in our filings with the SEC. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Investor and Media Contact:
Hampton Growth IR
SOURCE Single Touch Systems, Inc.