HENDERSON, Nev., July 7, 2011 /PRNewswire/ -- Videolocity
International, Inc. (PinkSheets: VCTY;
www.videointernationalcorp.com) management announces steps to
reduce the number of outstanding shares by more than 1.8 billion
(1,890,000,000).
The current outstanding share structure of VCTY (see OTC Markets
at http://www.otcmarkets.com/stock/VCTY/company-info) sits
currently at 4,795,797,814 shares. This will be reduced by 1.89
billion shares to approximately 2.9 billion outstanding shares. The
authorized shares will remain undisturbed.
VCTY expects this massive buyback to positively and
significantly affect and increase the company's value and help the
company to establish a closer relationship with shareholders. VCTY
is returning the stock to treasury of VCTY and records on
Nevada State and OTC Markets will
reflect the same shortly.
Safe Harbor Statement
Information in this news release may contain statements about
future expectations, plans, prospects or performance of Videolocity
International, Inc. that constitute forward-looking statements for
purposes of the Safe Harbor Provisions under the Private Securities
Litigation Reform Act of 1995. The words or phrases "can be",
"expects", "may affect", "believed", "estimate", "project" and
similar words and phrases are intended to identify such
forward-looking statements. Videolocity International, Inc.
cautions you that any forward-looking information provided by or on
behalf of Videolocity International, Inc. is not a guarantee of
future performance. None of the information in this press release
constitutes or is intended as an offer to sell securities or
investment advice of any kind. Videolocity International, Inc.'s
actual results may differ materially from those anticipated in such
forward-looking statements as a result of various important
factors, some of which are beyond Videolocity International, Inc.'s
control. In addition to those discussed in Videolocity
International, Inc.'s press releases, public filings, and
statements by Videolocity International, Inc.'s management,
including, but not limited to, Videolocity International, Inc.'s
estimate of the sufficiency of its existing capital resources,
Videolocity International, Inc.'s ability to raise additional
capital to fund future operations, Videolocity International,
Inc.'s ability to repay its existing indebtedness, the
uncertainties involved in estimating market opportunities, and in
identifying contracts which match Videolocity International, Inc.'s
capability to be awarded contracts. All such forward-looking
statements are current only as of the date on which such statements
were made. Videolocity International, Inc. does not undertake any
obligation to publicly update any forward-looking statement to
reflect events or circumstances after the date on which any such
statement is made or to reflect the occurrence of unanticipated
events.
Videolocity International, Inc.
Investor Relations
1-647-426-1640
www.minamargroup.net/helpdesk
Investor Relations Department Inquiries
www.minamargroup.net
For M&A and Corporate Matters
www.minamargroup.com
SOURCE Videolocity International, Inc.
