|
JC Data Solutions Announces It Is Completing a Reduction in Outstanding Shares by 40%
IRVING, TX--(MARKET WIRE)--Feb 8, 2008 -- JC Data Solutions, Inc. (Other OTC:JCDS.PK - News) announced today it plans to reduce the company's total outstanding shares. The company is returning to its treasury 250 million common shares.
Cary Allen, JCDS's Chairman and Chief Executive Officer, said, "In an attempt to increase shareholder value we plan to reduce outstanding shares this year. We began the fiscal year with approximately 270 million common shares outstanding and have increased that number to approximately 620 million outstanding shares through insider share distribution. We have reconsidered our position and decided to bring back our outstanding shares to approximately 370 million shares. We are also considering buying back shares in the open market during 2008."
"The future of our company is on the right track," commented Allen. "We have made substantial progress in efforts to position ourselves as a key player in the Healthcare, Oil and Gas and Attorney markets. We expect to be in position by year-end, at the latest, to announce testing applications of our new software that captures processes and reports ACH transaction data for the above stated industries."
|
