Systems America Decides Against Reverse Stock Split
SAN RAMON, Calif., March 11, 2011 /PRNewswire/ -- Systems America, Inc. (Pink Sheets: SYAI) announced that its Board of Directors has elected not to effect a 1 (one) share for 4 (four) shares reverse stock split. The Company continues to believe that trading on a major national exchange rather than the OTC would provide a broader market for the Company's common stock and facilitate the use of the Company's common stock in financing transactions. The Company believes it can accomplish this by focusing on continued execution of its business plan and growing investor confidence.
Adesh Tyagi , Chairman and Chief Executive Officer, said the Company considered current market conditions, business forecasts and other factors that could affect shareholder value. "Despite recent volatility in Systems America's share price, owing in part to shares issuance, we believe our long-term prospects remain strong and will become apparent to more investors as we announce our future growth plans."
About Systems America
Systems America is a premier provider of diversified cloud computing and information technology solutions to commercial and government clients worldwide. We are ranked one of the fastest growing companies with multiple locations around the world. It began when a group of extraordinary operations and information technology professionals formed a company dedicated to fulfilling client needs. From a single financial industry client, Systems America expanded into the energy, financial, government, healthcare, retail, and travel industries. Today, Systems America delivers superior cloud computing, information technology consulting services, and systems and integration services to hundreds of clients worldwide. Building on a core competency of efficient technology infrastructure outsourcing, the company, headquartered in San Ramon, California, United States now supports operations in nearly 20 countries. For additional information about Systems America, please visit www.systemsamerica.com.
Forward-Looking Statements Disclosure
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Systems America, Inc.
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.