LAS VEGAS, Jan. 31, 2012 /PRNewswire/ -- Security First
International Holdings (OTC: SCFR.PK) – today announced the
cancellation of 853,220,040 shares issued to Global Online
Television (GOTV) in an ongoing effort to remedy previous anomalies
in the share structure of the company.
The cancellation of shares announced today is the result of a
previous merger proposed by past management that was never
completed, but for which shares were issued. The result of
this cancellation is a significant reduction in the number of
outstanding shares of SCFR.
The issuance of these shares by Chris
Dubeau, the prior CEO, whose whereabouts are currently
unknown, is outrageous. It is precisely this kind of flagrant
disregard for the shareholders that led to his problems with the
Securities and Exchange Commission and his removal as an
officer. The new management of SCFR has no involvement with
the prior management and is remedying actions taken by Mr. Dubeau
which are reprehensible if not illegal. Any similar acts that
become known will also be dealt with immediately and harshly for
the shareholders' benefit.
President and CEO James Scheltema
stated, "Cancelling this large block of shares erroneously issued
by past management to GOTV is another indication that we are
working to enhance shareholder value. This reduces the number
of shares outstanding, protecting the remaining shareholders from
dilution of their investment. It is yet another step in
showing the shareholders the integrity of the new management."
About Security First International Holdings
Security First International Holdings is a holding company
implementing a new business plan to develop, acquire and market
video game titles for the major platforms including Microsoft's
Xbox, Sony PlayStation as well as PC, Android and iPhone. The
company is currently in the process of building management and a
web presence to continue with its plans to attract and market video
games for the above mentioned platforms.
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking
statements and information, as defined within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, and is subject to the Safe Harbor
created by those sections. This material contains statements about
expected future events and/or financial results that are
forward-looking in nature and subject to risks and uncertainties.
Such forward-looking statements by definition involve risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of Security First
International Holdings to be materially different from the
statements made herein.
Investor Relations
Security First International Holdings
investorreleations@securityfirstholdings.com
SOURCE Security First International Holdings
