NICHOLASVILLE, Ky., June 22 /PRNewswire-FirstCall/ -- Structural Enhancement Technologies Corp. f/k/a Extreme Mobile Coatings Worldwide Corp. (OTC Bulletin Board: EMWW) announces that they have completed the process to amend the name of the Corporation to Structural Enhancement Technologies Corp. and complete a reverse stock split at a ratio of ONE HUNDRED (100) to One (1). The changes became effective June 18, 2010. The shares will trade under the symbol "EMWWD" for twenty days and then revert to the symbol "EMWW" thereafter.
The Holding Company's name was changed to indicate our growing business plan of increasing our other areas of operations and coatings. Extreme Mobile Coatings, Inc., our wholly owned subsidiary, will continue to operate under its current name.
The Company has been in discussions with an investment banking firm about conducting a raise of capital, via a PIPE, and in anticipation of this raise, it was determined that a re-capitalization and change of name was necessary to attract the interest of potential investors. The Company expects to sign the Investment Banking Agreement within the next week to ten days.
Charlie Woodward, Extreme Mobile Coatings President and CEO states, "We hope that the re-capitalization of our shares of common stock will position us to allow a raise of private capital that will enable our projected expansion of operations. The change of name will better show our varied lines of coatings and better explain our business model."
About Extreme Mobile Coatings:
Through its wholly owned subsidiary, Extreme Mobile Coatings, Inc., based in Nicholasville, Kentucky, offers franchise opportunities to operate a mobile business which provides painting or coating on various surfaces utilizing a special patented mobile system developed by Environmental Infrastructure Holdings Corp. ("EIHC") formerly Xiom Corp. and licensed to Extreme. In addition, Extreme operates a mobile coating business in and around Nicholasville, Kentucky.
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This press release contains forward-looking statements, which represent the Company's expectations or beliefs, including, but not limited to, statements concerning plans, growth and strategies, which include, without limitation, statements preceded or followed by or that include the words may, will, expect, anticipate, intend, could, estimate, or continue or the negative or other variations thereof or comparable terminology. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These statements by their nature involve substantial risks and uncertainties, some of which are beyond the Company's control and actual results.
SOURCE Structural Enhancement Technologies Corp.