EAST HANOVER, N. J., Sept. 27, 2011 /PRNewswire/ -- Unity Management Group Inc. (Pink Sheets/OTC: UYMG) announced today that the Company has reduced the Issued and Outstanding Common Shares (I/O) by a substantial 19%!
According to the Company, the Issued and Outstanding Common Shares were reduced by 20,000,000 Shares resulting in a new I/O of 131,186,620 Shares and a Public Float of 107,589,460 Shares. Management believes this action demonstrates a commitment to the common shareholder to improve and preserve the share structure, thus adding value for all shareholders.
The Company was able to reduce its I/O by having upper management holding permanently restricted shares voluntarily return their certificates for retirement. Upper Management received no compensation for their return, but instead did it for the benefit of the company," stated Michael Oliver Vice President and Director of Unity Management Group Inc.
"In addition, we are preparing in the very near future for yet another reduction which will help us meet our business requirements as well as company updates, and a planned conference call in our upcoming news releases," stated Oliver. "Management believes these actions will not only increase shareholder value, but meet the needs of potential partners and investors."
About Unity Management Group, Inc.: Unity Management Group, a health resource company, will continue to provide innovative physician practice management services that offer high value and significant return on investment for physicians practices and hospitals through its three subsidiary companies: United Healthcare Solutions Inc., Unity Technologies Inc., and United Business Services Inc.
The first subsidiary, Unity Business Services, is a full service management company offering solutions in practice management, billing, staffing, contracting, licensing, credentialing, and accounting. Unity Business Services also offers assistance in HIPAA compliance, marketing, and unique solutions for practice start-ups and new practices.
Unity Technologies Inc. is a complete software solutions company offering billing, electronic medical records, and electronic health records for physicians' offices and hospitals.
United Healthcare Solutions, a national company based in Nevada, is a healthcare company will be providing medical, vision and dental plans, as well as PPO and HMO networks.
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Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Unity Management Group, Inc. Investor Relations 855-413-0755
SOURCE Unity Management Group, Inc.