Eternal Image Retires 4 Billion Shares of Stock as Part of Significant Share Restructuring.New Trading Symbol Trading symbol See: Ticker symbol Debuts After Reverse Stock Split on January 15, 2008 FARMINGTON HILLS, Mich. -- Eternal Image, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :ETNL.PK), a public company engaged in the design, manufacturing and marketing of licensed brand image funerary fu·ner·ar·y adj. Of or suitable for a funeral or burial. [Latin f  ner products such as caskets, urns, monuments
and vaults, today announced it has retired four billion shares of stock
thereby reducing the company's total authorized share count to 1.8
billion shares.
"Earlier this week we announced that we had submitted our application to the SEC for authorization to trade on the OTCBB OTCBB See OTC Bulletin Board (OTCBB). . Today's stock retirement is the next step in helping position Eternal Image for this move," said James Parliament, CFO See Chief Financial Officer. , Eternal Image. "Our commitment to our stakeholders is firm: our goal is to always provide value. This considerable reduction in authorized shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. will offer added value to existing shareholdings as, by nature, it has increased their percentage of ownership in the company." The retirement of four billion shares reduces the authorized share count to 1.8 billion shares, of which 195,000,000 is preferred voting stock Voting stock The shares in a corporation that entitle the shareholder to vote. voting stock Stock for which the holder has the right to vote in the election of directors, in the appointment of auditors, or in other matters brought up at the . The new share structure will be: Total Authorized (Number from Transfer Agent) < 1,800,000,000 Preferred < 195,000,000 Common Available (Total Authorized MINUS Preferred) < 1,605,000,000 Common Outstanding (Number from Transfer Agent) < 224,428,012 Restricted Common Shares (Number from Transfer Agent) < 38,943,919 Float < 185,484,093 Treasury < 1,380,571,988 ETNL: New trading symbol triggered by reverse stock split became effective on January 15, 2008. On Wednesday Eternal Image announced the filing of its SB2 Registration to the SEC. That same day the company implemented a reverse stock split (1 for 20) in order to better position the stock for OTCBB trading and to retire the four billion shares announced today. In compliance with SEC rules, the company also debuted a new stock symbol, ETNL, a standard step during a reverse stock split. For more information on the reverse stock split, visit www.eternalimage.net to review a special Letter to Shareholders. About Eternal Image Eternal Image, founded in 2002, is headquartered in Farmington Hills, MI. The company is the first and only manufacturer and marketer of licensed brand image funerary products. Currently, the company offers urns and caskets that feature licensed images from Major League Baseball "MLB" and "Major Leagues" redirect here. For other uses, see MLB (disambiguation) and Major Leagues (disambiguation). Major League Baseball (MLB) is the highest level of play in North American professional baseball. , STAR TREK, Precious Moments, and the Vatican Library Collection, as well as pet urns featuring the American Kennel Club American Kennel Club (AKC), national organization in the United States devoted to the advancement and welfare of pure-bred dogs. It is comprised of approximately 500 autonomous clubs. , and Cat Fanciers'[TM] Association. For more information about EI, visit www.EternalImage.net or call 1-888-6-CASKET. 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. STATEMENT Statements in this news release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning 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, Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to risk factors inherent in doing business. Forward-looking statements may be identified by terms such as may, will, should, could, expects, plans, intends, anticipates, believes, estimates, predicts, forecasts, potential or continue or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements. |
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