SAN RAMON, Calif., Feb. 28, 2011 /PRNewswire/ -- Systems America, Inc. (Pink Sheets: SYAI), a premier provider of cloud computing and information technology solutions, announced that, following the closing of the market today, it received notice that Pink OTC Markets finished processing the Company's financials, updated disclosure documents and attorney letter for the period ending December 31, 2010, and intends to move the Company to the Pink Sheets "Current Information" tier before the next market open.
On Thursday, February 24, 2011, the Company submitted all required documents and fees with Pink Sheets in an effort to bring the Company's financial and operational information current. The Board is pleased to announce that as of December 31, 2010, all documents have been reviewed and accepted as "Current Information" by Pink Sheets.
"Having current information builds a bridge between the Company and its shareholders. Our goal is that shareholders are fully aware of how their investment dollars are being spent. As the Company continues to grow, shareholders will be able to follow as their shareholder value increases," said Adesh Tyagi, Chairman & CEO of Systems America, Inc.
Adesh Tyagi, Systems America Chairman & CEO, added, "In the past few months we have worked hard to increase the quality of our reporting, we are really excited about this business. This was one of the obstacles we had to overcome, but with this behind us, and with the recent additions to our management team, and the institution of better operational and financial controls, with our recent acquisitions and high growth in EBITDA by December 2011 has a greater chance of success."
About Systems America
Systems America is a premier provider of diversified cloud computing and information technology solutions to commercial and government clients worldwide. We are ranked one of the fastest growing companies with multiple locations around the world. It began when a group of extraordinary operations and information technology professionals formed a company dedicated to fulfilling client needs. From a single financial industry client, Systems America expanded into the energy, financial, government, healthcare, retail, and travel industries. Today, Systems America delivers superior cloud computing, information technology consulting services, and systems and integration services to hundreds of clients worldwide. Building on a core competency of efficient technology infrastructure outsourcing, the company, headquartered in San Ramon, California, United States now supports operations in nearly 20 countries. For additional information about Systems America, please visit www.systemsamerica.com.
Forward-Looking Statements Caution:
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Systems America, Inc.