Cistera Networks Files Schedule 14C -- Reverse/Forward Split
25 Junho 2009 - 5:43PM
Marketwired
Cistera Networks� (OTCBB: CNWT), a leading provider of enterprise
application platforms and engines for Unified Communications, today
announced the filing of an Information Statement informing
stockholders of its intention to reverse, then forward split its
common shares. The company received the written consent for these
actions from stockholders of 11,431,187 shares, representing 65.6%
of the company's outstanding shares. This action will eliminate
holders of one and two share positions, thereby reducing the number
of stockholders to fewer than 300.
Once the splits are accomplished, the Company intends to
terminate the registration of its shares with the SEC, thereby
eliminating its obligations to file current and periodic reports
with the SEC, and the associated, significant costs of
Sarbanes-Oxley compliance. Because of the deregistration, the
shares will no longer be eligible for quotation on the OTCBB, but
the company anticipates that it will be quoted on the Pink Sheets,
and intends to provide current company information through the Pink
Sheets News Service.
"The company is current on its filings obligations under the
Securities Exchange Act," commented Greg Royal, Cistera's CEO.
"This voluntary move is part of a larger plan aimed at reducing
costs and focusing expenses on growing the business and increasing
shareholder value."
About Cistera Networks, Inc.
Cistera Networks is a leading provider of enterprise
communications platforms and services. The company blends powerful
application infrastructure with industry-specific business
processes, to deliver the benefits of voice, video and data
convergence to the user. For more information, please see
www.cistera.com
This release may be deemed to contain forward-looking statements
that are subject to the safe harbor provisions of the Private
Litigation Reform Act of 1995. These forward-looking statements
include, among other things, statements regarding future events and
the future financial performance of Cistera Networks that involve
risks and uncertainties. Readers are cautioned that these
forward-looking statements are only predictions and may differ
materially from actual future events or results. Readers are
referred to the documents filed by Cistera Networks with the SEC,
specifically the most recent reports on Form 10-K and 10-Q, each as
it may be amended from time to time, which identify important risk
factors that could cause actual results to differ from those
contained in the forward-looking statements.
Contact: Cistera Networks, Inc. 972-381-4699 ext. 75003
Cistera Networks (CE) (USOTC:CNWT)
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