Apparel Technologies, Inc. Shareholders Approve Increase in Authorized Shares of Common Stock to 60,000,000 From 30,000,000.COMMERCE, Calif.--(BUSINESS WIRE)--June 2, 1998--Apparel Technologies, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :APTX APTX Aprataxin APTX Advanced Process and Technology Experiment (US Air Force) ) announced today that shareholders attending a Special Meeting of Shareholders on May 22, 1998, and those voting by proxy, have approved an amendment to the Company's Certificate of Incorporation certificate of incorporation n. some states issue a certificate to prove a corporation's existence upon the filing of Articles of Incorporation. In most states the Articles are sufficient proof. increasing the number of authorized shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. of its Common Stock to 60,000,000 from 30,000,000. As of May 22, 1998, the Company had approximately 23 million shares of Common Stock issued and outstanding. Commenting on the Shareholder approval of the additional authorized yet unissued shares, Kathryn Van Ness, APTX President and Chief Executive Officer, said, "APTX has embarked on an ambitious plan to become a leader in bringing digital printing on textiles and other products to the marketplace. The authority to issue additional shares will enable the Company to fund its anticipated growth as we continue to expand our production capacity. Customer response to the Company's digital printing operations has been extremely positive." Apparel Technologies, Inc. provides advanced proprietary technology for digital fabric printing, manufactures apparel for leading national retailers and designs and installs state-of-the-art retail fixtures. Except for historical matters contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements reflect assumptions and involve risks and uncertainties which may affect Apparel Technologies, Inc.'s business and prospects and cause actual results to differ materially from these forward-looking statements. CONTACT: Kathryn Van Ness, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. 213/725-4955 |
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