Commonwealth American Financial Group Announces Buy-Back of Its Common Stock of 1 Billion Shares.MIAMI Miami, cities, United States Miami (mīăm`ē, –ə). 1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896. -- Commonwealth American Financial Group, Inc. (Pink Sheets:CWFG) announced today that the Board of Directors has approved a buyback of its common stock on the open market. The Board also approved that the company will purchase up to 1 billion shares of its common stock. The planned buyback is subject to all applicable laws. The Board Members also acknowledged that stock purchased from the buy-back program would be retired to the treasury and would not be issued again. The Board also reiterates that no reverse split is planned for the company. Ms. Ryals, President and 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. , said: "We believe the price of our stock is well below what we believe to be fair market value for our company currently. We will continue to grow our business while enhancing shareholder value." The mission of Commonwealth American Financial Group, Inc. is to invest in land development projects either as developer, joint venture partner, or lender and create mezzanine-financing opportunities. The company will also grow by acquiring subsidiaries in related fields such as construction, real estate brokerage-appraisal-management, in Florida, Texas and Louisiana. The Company has established a website http://www.cwmf.net and trades under the symbol (Pink Sheets:CWFG). FORWARD LOOKING STATEMENTS: This information includes forward-looking statements made pursuant 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. 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 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to mange mange (mānj), contagious skin disease of domestic and wild animals. The several types of mange, including follicular and sarcoptic mange, are caused by various minute parasitic mites that burrow into skin, hair follicles, or sweat glands. growth, acquisitions of technology, equipment, or human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. , the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this issue. |
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