OREM, Utah, Sept. 13, 2011 /PRNewswire/ -- Global Investor Services, Inc. ("Global", OTCBB: GISV) announced that it entered into an Agreement with certain investors whereby the marketing funding arrangements were terminated and the investors released Global from any and all claims.
Earlier in 2011, Global had entered into Investment Agreements with several accredited investors whereby the investors provided Global with funding in consideration of a percentage of net revenue generated as a result of Global's marketing efforts. The agreement recently entered with the investors, released Global from all claims in consideration of a payment in the aggregate amount of $50,000 and the issuance of 37,999,999 shares of common stock to the investors. In addition, Global issued HFP Capital Markets LLC 2,000,000 shares of common stock for assisting in the above transaction.
Commenting on the announcement, Dr. Joseph J. Louro, CEO, stated, "This settlement agreement strengthens the company's financials by removing all future revenue sharing obligations on the company and allows for operating cash flow to be retained internally and deployed to grow our business. This settlement is an important event in our continuing efforts to improve the financial fundamentals of the company and build shareholder value."
About Global Investor Services, Inc.
Global Investor Services, Inc. provides and delivers a comprehensive on-line program of investor education through its InvestView brand, offers proprietary investor search tools and trading indicators, distributes weekly newsletters, offers access to a live "state of the art" weekly Trading Room. www.investview.com
For more information, please contact:
Global Investor Services, Inc.
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.
SOURCE Global Investor Services, Inc.