GEAR International Sets All Time Trading Volume High Today; Management Supports Shareholders With Additional Share Reductions
May 21 2012 - 8:59PM
Marketwired
GEAR International, Inc. (PINKSHEETS:GEAR) announces that over
30,000,000 shares of GEAR common stock traded today amidst intense
short selling by market makers.
The surge in Intraday trading volume over the last 2 trading
days is in alignment with GEAR management's objectives.
GEAR management is demonstrating support for shareholders by
cancelling an additional 15,000,000 shares of class A common stock.
Last week, GEAR reduced common authorized shares to 600,000,000
from over 2.9 billion while reducing preferred B authorized shares
to 600,000 shares and eradicating all class C shares. Today's
cancellation brought the total issued and outstanding shares down
to 133 million shares.
GEAR President Dale Geck affirms: "GEAR management is thrilled
to receive support from new shareholders. Today, investment banks
and private equity groups in New York have expressed strong
interest in GEAR as a potential leader in resource development. As
demonstrated by today's stock cancellation, management is committed
to achieving a share price that is consistent with the company's
fundamental activities and profile."
About GEAR International, Inc.:
GEAR International, Inc. was originally incorporated in 1996.
The company's strategically focused on gold and silver mining,
providing financing for gold and silver mining projects, and
precious metals processing and refining.
Safe Harbor
This press release contains statements, which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act of 1995. Those
statements include statements regarding the intent, belief or
current expectations of Mission Holdings LLC.,., and members of its
management as well as the assumptions on which such statements are
based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those contemplated by such forward-looking
statements. Important factors currently known to management that
could cause actual results to differ materially from those in
forward-statements include fluctuation of operating results, the
ability to compete successfully and the ability to complete
before-mentioned transactions. The company undertakes no obligation
to update or revise forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated events or changes to
future operating results.
Contacts: GEAR International, Inc. Dale Geck President
888-550-7067info@gearii.com
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