With First Steps Completed, Virogen, Inc. Moves to Bring Share Cancellation Total to 6 Billion Shares Cancellation of Second 3 Billion Share Block Expected to Further Boost Long-Term Shareholder Value
SAN GERONIMO, Calif., March 18, 2013 /PRNewswire/ -- Virogen Inc. (OTC:VRNI), a holding company specializing in data security and encryption technology, today announced that it had completed the first step in a required two-step process that will result in the cancellation of 3,000,000,000 of its currently outstanding shares, bringing its announced share cancellation total to 6,000,000,000 shares. This second of two 3,000,000,000 share cancellations is expected to be beneficial to shareholder value, both near-term and long-term. Completion of the share cancellation process is expected to occur prior to the end of the current quarter.
About Virogen, Inc.
Virogen, Inc. is a technology holding company. The company's wholly owned subsidiary, Tiger Team Technologies "T3," has developed a very unique suite of copyrighted tools to address the network and database security needs of enterprise level companies and corporations. T3's risk management offering provides an unprecedented level of security and liability protection, positioning it as the only company with a comprehensive solution to data security breaches for its clients. T3's primary markets include medical service providers, financial services firms, brokerages and currency transaction platforms, consumer credit card companies, banking entities, retailers, defense and government related operations.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Virogen, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions the occurrence of unanticipated events or changes to future operating results.
SOURCE Virogen, Inc.