AdSouth Partners Announced One-for-15 Reverse Split.BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla. -- AdSouth Partners, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). "ADPR ADPR Automated Data Processing Resource ADPR Asset Depreciation Range ") announced today that its board of directors has approved a one-for-15 reverse split of its common stock, effective at the opening of trading on March 25, 2005. In connection with the reverse split, the number of authorized shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. of common stock is being reduced from 500,000,000 to 33,333,333 shares. All fractional shares Fractional share Stocks amounting to less than one full share, usually resulting from splits, acquisitions, exchanges, or dividend reinvestment programs. fractional share Less than one share of stock, that is, one-third or one-half a share. will be rounded up by the issuance of such additional fraction of a share as is necessary to increase the fractional share to a full share of common stock. As a result of the reverse split, the number of outstanding shares of common stock will decrease from 118,563,979 shares to 7,904,265 shares. Mr. John P. Acunto, Jr., AdSouth's chief executive officer, stated that the reverse split and reduction in the number of outstanding shares should enable AdSouth to present its per share information in a more rational manner. About AdSouth Partners AdSouth Partners is a vertically integrated direct response marketing company that generates revenues from the placement of advertising, the production of advertisements, creative advertising and public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most consulting services. Since mid 2004, it has expanded its activities as it obtained the rights to products that it markets and sells to retail outlets. Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward- looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company's Form 10-KSB filing, its registration statements and other filings with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission (available at www.sec.gov). The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise. |
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