Canterbury Board Votes to Expense up to 250,000 Stock Options to Be Awarded in the Current Fiscal Year.Business Editors MEDFORD, N.J.--(BUSINESS WIRE)--June 9, 2004 Canterbury Consulting Group, 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 :CITI CITI Columbia Institute for Tele-Information (Columbia University) CITI Center for Information Technology Integration (University of Michigan) CITI Collaborative IRB Training Initiative ) announced today that Canterbury's Board of Directors has voted to fully expense all stock options that may be awarded in future periods at the time of their issuance. This decision will affect specifically up to 250,000 employee stock options that the Board also approved for issuance in the current fiscal year ending November 30, 2004. The authorized stock Authorized Stock The maximum number of shares that a corporation is legally permitted to issue, as specified in its articles of incorporation. This figure is usually listed in the capital accounts section of the balance sheet. option awards will be made pursuant to Canterbury's existing employee stock option plan that its shareholders have previously approved. Canterbury expects that the decision to expense options will result in a charge to Canterbury's earnings at the time of issuance, based on the number of options issued and the market price of Canterbury common stock at the time of issuance. Canterbury further expects that, if all of the options approved for issuance in 2004 were subsequently exercised, Canterbury's currently outstanding shares of common stock would increase by 250,000 shares or 12% this year. About Canterbury Consulting Group, Inc. Canterbury Consulting Group, Inc. provides information technology and management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects services and training to both corporate and government clients. Canterbury's mandate is to become an integral part of its clients' management and technical infrastructure, designing and applying the best products and services to help them achieve a competitive advantage. For more information, visit www.canterburyconsultinggroup.com. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . The Company's performance and financial results could differ materially from those reflected in the forward-looking statements due to general financial, economic, regulatory and political conditions or additional factors unknown to the Company at this time, as well as more specific risks and uncertainties such as those set forth in documents filed by the Company with the SEC (including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended November 30, 2003 and its most recent reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. and Form 10-Q Form 10-Q See 10-Q. , copies of which are available upon request or over the Internet at www.sec.gov). Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, current or prospective investors are cautioned not to place undue reliance on any such forward-looking statements. Furthermore, the Company has no intent, and disclaims any obligation, to update any such factors or forward-looking statements to reflect future events or developments. |
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