Saf T Lok Incorporated Announces Stock Split; Saf T Lok's Common Stock Continues To Be Listed On Nasdaq

Apr 23, 2001, 01:00 ET from Saf T Lok Incorporated

    WEST PALM BEACH, Fla., April 23 /PRNewswire Interactive News Release/  --
 Saf T Lok Incorporated (Nasdaq: LOCKC), www.saf-t-lok.com, today announced a
 one-for-ten reverse stock split of its common stock.
     The reverse stock split will be effective at the close of business on
 April 26, 2001, and the Company's shares are expected to begin trading on a
 post-split basis effective April 27, 2001.  The Company's trading symbol will
 be LOCCD for the twenty trading days following commencement of post-split
 trading.
     Immediately following the reverse stock split, the Company will have three
 million shares of common stock authorized and approximately 1.65 million
 shares outstanding.
     James E. Winner, Jr., Chairman and Chief Executive Officer of the Company,
 said, "Saf T Lok's action is intended to enable the Company to meet Nasdaq's
 minimum bid price requirement."
     The Company today received notice from Nasdaq that it does not currently
 comply with Nasdaq's net tangible assets requirement set forth in Nasdaq
 Marketplace Rule 4310(c)(2)(B).  The Company intends to address this
 deficiency by written submission to Nasdaq, and believes that it can present a
 plan that will enable the Company to satisfy Nasdaq's criteria.  Should the
 Company's Common Stock, at some future date, cease to be listed on the Nasdaq
 Small Cap Market, the Company's Common Stock could continue to be listed on
 the over-the counter (OTC) Bulletin Board.
     Saf T Lok Incorporated is the manufacturer of the Saf T Lok(R) hand gun
 safety locks.  The Company's patented combination gun locks, for revolvers and
 semi-automatic handguns, become an integral part of the firearm so there is
 nothing to remove, no keys or rings to find and no batteries to fail.  The
 "touch-sensitive" combination allows for operation of the lock -- even in the
 dark.  Unlike trigger locks, which require guns to be unloaded, the Saf T
 Lok(R) gun locks attach to the grip or magazine of a handgun and blocks the
 weapon internally so it cannot be fired, even if it is loaded and the trigger
 pulled.  Only someone who knows the combination can use the gun or remove the
 lock.
     Certain information and comments contained in this press release may be
 forward-looking statements (within the meaning of Section 27A of the
 Securities Act of 1933 and Section 21E of the Securities Exchange Act of
 1934).  Factors set forth in the Company's Annual Report on Form 10-KSB, its
 subsequent Form 10-QSB filings together with other factors that appear in this
 press release or in the Company's other Securities and Exchange Commission
 filings could affect the Company's actual results and could cause the
 Company's actual results to differ materially from those expressed in any
 forward-looking statements made by, or on behalf of the Company, in this press
 release.
 
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SOURCE Saf T Lok Incorporated
    WEST PALM BEACH, Fla., April 23 /PRNewswire Interactive News Release/  --
 Saf T Lok Incorporated (Nasdaq: LOCKC), www.saf-t-lok.com, today announced a
 one-for-ten reverse stock split of its common stock.
     The reverse stock split will be effective at the close of business on
 April 26, 2001, and the Company's shares are expected to begin trading on a
 post-split basis effective April 27, 2001.  The Company's trading symbol will
 be LOCCD for the twenty trading days following commencement of post-split
 trading.
     Immediately following the reverse stock split, the Company will have three
 million shares of common stock authorized and approximately 1.65 million
 shares outstanding.
     James E. Winner, Jr., Chairman and Chief Executive Officer of the Company,
 said, "Saf T Lok's action is intended to enable the Company to meet Nasdaq's
 minimum bid price requirement."
     The Company today received notice from Nasdaq that it does not currently
 comply with Nasdaq's net tangible assets requirement set forth in Nasdaq
 Marketplace Rule 4310(c)(2)(B).  The Company intends to address this
 deficiency by written submission to Nasdaq, and believes that it can present a
 plan that will enable the Company to satisfy Nasdaq's criteria.  Should the
 Company's Common Stock, at some future date, cease to be listed on the Nasdaq
 Small Cap Market, the Company's Common Stock could continue to be listed on
 the over-the counter (OTC) Bulletin Board.
     Saf T Lok Incorporated is the manufacturer of the Saf T Lok(R) hand gun
 safety locks.  The Company's patented combination gun locks, for revolvers and
 semi-automatic handguns, become an integral part of the firearm so there is
 nothing to remove, no keys or rings to find and no batteries to fail.  The
 "touch-sensitive" combination allows for operation of the lock -- even in the
 dark.  Unlike trigger locks, which require guns to be unloaded, the Saf T
 Lok(R) gun locks attach to the grip or magazine of a handgun and blocks the
 weapon internally so it cannot be fired, even if it is loaded and the trigger
 pulled.  Only someone who knows the combination can use the gun or remove the
 lock.
     Certain information and comments contained in this press release may be
 forward-looking statements (within the meaning of Section 27A of the
 Securities Act of 1933 and Section 21E of the Securities Exchange Act of
 1934).  Factors set forth in the Company's Annual Report on Form 10-KSB, its
 subsequent Form 10-QSB filings together with other factors that appear in this
 press release or in the Company's other Securities and Exchange Commission
 filings could affect the Company's actual results and could cause the
 Company's actual results to differ materially from those expressed in any
 forward-looking statements made by, or on behalf of the Company, in this press
 release.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X75072942
 
 SOURCE  Saf T Lok Incorporated