UNIR Uniroyal Global Engineered Products Inc (CE)

Invisa, Inc. (OTCBB:INSA) announced today that the Company filed its Annual Report on Form 10K with the Securities and Exchange Commission. A copy of the Annual Report may be found on the Company’s website www.invisa.com.

Among other things, the Company accomplished additional steps towards its recapitalization including a 5:1 reverse stock split. The Reverse Stock Split is intended to provide the capital structure that may facilitate further potential business and financing transactions and also increase the per share stock price.

In continuation of our restructuring efforts, Invisa, Inc. was able to reduce its debt from $1,076,830 in 2009 to $561,197 in 2010 or a 52% in total debt reduction. The debt reduction in 2010 was largely due to an exchange of shares of Common Stock for debt owed to our Senior Lender.

Additionally, we were successful in re-establishing a $150,000 Revolving Line of Credit. The line of credit contained a sufficient amount to fund operations through December 31, 2011, therefore allowing the Company’s auditor to remove any going concern language from our audit report.

Invisa, Inc. manufactures and sells sensors using the Company’s patented InvisaShield™ presence-sensing technology in the safety market. We market our line of safety sensors under the name of SmartGate® brand safety sensors used in or with parking barrier gates to protect life and property. Our sales revenues are derived from the sale of our SmartGate safety sensors.

This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the company's current beliefs and are based upon currently available information. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Factors which may cause such differences include the company's ability to meet planned delivery schedules, cancellation of orders, and other risks disclosed in the Company's SEC filings. The company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information covered in this press release, including such forward-looking statements.

Uniroyal Global Engineer... (CE) (USOTC:UNIR)
Historical Stock Chart
From Dec 2024 to Jan 2025

Uniroyal Global Engineer... (CE) (USOTC:UNIR)
Historical Stock Chart
From Jan 2024 to Jan 2025