ORANGEBURG, N.Y., Jan. 23, 2013 /PRNewswire/ -- OSL Holdings, Inc. (OTC: OSLHD) ("OSLH" or the "Company"), a developer of technology platforms that enable real-time sales and trend information exchange between brands and retailers, today announced that its one for one thousand reverse stock split of the Company's common stock became effective on January 9, 2013. OSLH shareholders will receive one share for every thousand shares held at the effective date of the reverse split. Partial shares will be reimbursed at the post reverse price of thirty-six cents per share. Shares will trade temporarily under the symbol, OSLHD, for a period of twenty days following the effective date of the reverse split.
The Company's Board of Directors hopes that increased share value will enhance the Company's ability to recapitalize, attract new business relationships as well as attract and expand its management team.
The overall goal is to bring more traditional financing options to execute on the business plan and develop the technology and data platforms, which should allow for growth of the company and increased shareholder value in the market.
To that end, OSL is able to retain its senior management as well as has add a key new executive, Steven Gormley, who will lead sales efforts as well as add to the ongoing process of extending or expanding its relationships with Macias Media Group, Krystalitics, Alteryx, Unitel, and Posterita. Steve brings 20 years of experience in sales, business development and marketing. He has worked across a variety of industrial verticals including technology, media, financial services and consumer products. Steve brings a strong international skill set to the table. He is fluent in Chinese, French and German and conversational in Dutch, Portuguese, Russian and Spanish. Steve has served as a portfolio manager in private equity and has C-level experience in sales and business development with a number of multinational advertising agencies and media companies.
About OSL Holdings
OSL Holdings Inc. develops or acquires business units with the purpose of collecting and transmitting real-time consumer and business sales data to facilitate the sale of data, manage electronic marketplaces, operate real-time loyalty rewards and transact with buyers in multiple channels. OSL plans to sell data to manufacturers for designated markets, such as urban retail, convenience and/or liquor stores. OSL intends to facilitate developing electronic marketplaces with real-time buy-side and sell-side capabilities for multiple private & public markets. It intends to operate a real-time loyalty rewards platform that can facilitate the earning and redemption of our rewards currency at the point of the transaction (online, mobile, at retail) as well as on future transactions. The Company plans to leverage these business units to connect buyers, sellers and channels that will clearly differentiate it from the competitive landscape so that each venture can scale revenues and their respective offerings to their specific market(s) or across markets.
Forward-Looking Safe Harbor Statement:
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases you can identify those so-called "forward looking statements" by words such as "may," "will," "should," "expects," plans," "targets," "believes," "anticipates," "estimates," "predicts," "potential," or "continue" or the negative of those words and other comparable words. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. There are a number of factors, risks and uncertainties that could cause actual results and developments to differ materially from forecasted results. For a discussion of these factors, risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the Commission are available from commercial document retrieval services and at the website maintained by the Securities and Exchange Commission at http://www.sec.gov. We assume no obligation to update or alter our forward-looking statements made in this release or in any periodic report filed by us under the Securities Exchange Act of 1934 or any other document, whether as a result of new information, future events or otherwise, except as otherwise required by applicable federal securities laws.
SOURCE OSL Holdings, Inc.