Synesi, Inc Reduces Authorized Common Shares.STOWE, Vt. -- Synesi, Inc.'s (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). .PK: SYNS SYNS Surely You're Not Serious SYNS See You Next Summer ) board of directors announced it decided unanimously to adjust the company's share structure. Synesi's authorized shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. will be reduced to 800,000,000 shares of SYNS common stock. As such, the shares are subject to all SEC and regulatory statutes. The company's share structure will be updated on and can be viewed at www.pinksheets.com. Synesi President Ian Lamphere asserted that the non-dilutive adjustment "will realize increased value to shareholders." For more information visit www.synsinc.com, and www.portcitycoffee.com. About the Industry: The beverage market represents more than $200 billion in the U.S. and $700 billion internationally. Sales of premium coffee and espresso-based beverages show the greatest increase! Coffee is the world's fifth most traded commodity and the demand for premium coffee beverages continues to rise. According to the National Coffee Association of the U.S.A.'s 2004 National Coffee Drinking Trends report, the percent of coffee drinkers that drink gourmet coffees increased 16% last year! 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 manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. 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 release. |
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