The Automotive Resource Network Holdings, Inc. Today Announced a Major Reduction in the Authorized Shares of the Company
NEW YORK, Feb. 23, 2012 /PRNewswire/ -- The Automotive Resource Network Holdings (OTCPink: ARNH.PK) announced today that they have formally passed some major Board decisions that received unanimous support that directly affect the share structure of the company, effective both now and in the immediate future.
The Automotive Resource Network Holdings filed to decrease the allowed authorized shares of the company on February 20, 2012 from 2 Billion to 800 Million shares. This represents the first of many steps the owners are working on to build a strong foundation.
"Lowering the authorized shares allowed has positioned us to be competitive and to build real share value and price throughout our industry for both our shareholders and distributors," said Kathy Roberton, CEO. "Our structure now directly reflects the fact that we are serious about our model and belief in the future and vision of the company."
About The Automotive Resource Network, Inc.: The Automotive Resource Network, Inc. offers a unique month to month vehicle service contract and roadside assistance products direct to consumers through independent sales channels.
Cautionary Statement Regarding Forward-Looking Statements
Statements in this press release relating to The Automotive Resource Network Holdings, Inc.'s future plans, expectations, beliefs, intentions and prospects are "forward-looking statements" and are subject to material risks and uncertainties. When used in this press release, the words "will," "future," "expect," "look forward to," similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of The Automotive Resource Network Holdings, Inc. (the "Company") that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this press release due to a number of risks and uncertainties. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur. All information set forth in this press release is current as of February 23, 2012. The Company undertakes no duty to update any statement in light of new information or future events unless required by law.
Contact:
The Automotive Resource Network Holdings, Inc.
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SOURCE The Automotive Resource Network Holdings, Inc.
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