PLACERVILLE, CA, Aug. 11, 2015 /PRNewswire/ - Anything Technologies Media, Inc. (OTC:EXMT) has announced that the company's Board of Directors have approved a stock buyback program expected to reduce approximately half of the company's float or approximately 400 million common shares of the company's stock. The company has already established a brokerage account to execute a plan to buy-back shares of its common stock from the public market, and reduce the float by approximately 50%. The Board of directors have agreed that a percentage of revenues derived from several projects that the company and that its wholly owned subsidiary, Frontier Indoor Garden Solutions, Inc. (FIGS), are expected to participate in throughout 2015 and 2016, will be utilized to remove shares from the open market and reduce the float and dilution of the company's common stock; EXMT.
As the company buys back stock in the open market it will have the shares pulled from the float in certificate form and thus have them removed from the float and the outstanding share total of the company. The decision to approve a stock buyback program by the company was made because the Board of Directors feels that the shares are undervalued and that the company is being shorted by market makers. The company will announce to the public when shares have been purchased and retired and expects to start the program within two weeks.
"Success breeds success," said ATM's President, Rick Wilson. "Our Board of Directors is dedicated to ensuring the long-term stability and growth of our shareholder value. The next 24 months of projected revenues presents an opportunity for us to improve our position, and we are going to act on it."
About Frontier Indoor Garden Solutions, Inc.
Frontier Indoor Garden Solutions, Inc. is a consulting, sales and marketing company focused in the development of commercial indoor medical cannabis facilities and outdoor industrial hemp operations. It specializes in providing all the essential elements for creation of cannabis related economic development projects and programs for Native American Tribes, groups, and organizations, stressing an emphasis on education and medical research. Frontier is the founder and head of the Cannabis Facility Development Consortium, a group of individuals and companies providing specialties in every aspect of the development and operation of cannabis related grow facilities and operations.
About Anything Media Technologies, Inc.
Anything Technologies Media Inc., www.anythingtechnologiesmedia.com is a Multi-Media Digital applications, production and marketing Company. ATM is the parent company of subsidiary Corporations, and is also focused on partnerships and acquisitions in the medical marijuana sector.
About R-Quest Hydroponics, Inc.,
R-Quest Hydroponics, Inc., is a Hardware and Manufacturing Company with its headquarters in Placerville, California. R-Quest Hydroponics, Inc., is focused on the development of new nutrient products, and the manufacturing and construction of growing facilities to enhance growing efficiency for Hydroponic plant growth. R-Quest is also is involved in developing and testing new technologies for this market space. 51% of R-Quest Hydroponics was acquired by IMD Companies Inc., (OTC: ICBU). To see more information about R-Quest go to www.r-questhydro.com .
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Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.
SOURCE Anything Technologies Media Inc.