SOURCE: InsynQ, Inc.

November 25, 2008 14:20 ET

InsynQ, Inc. Announces the Board of Directors of the Company Approves a 1 for 50 "Reverse Split" of Its Common Shares

GIG HARBOR, WA--(Marketwire - November 25, 2008) - InsynQ, Inc. (PINKSHEETS: INSQ) announced today that its Board of Directors has approved a 1 for 50 reverse split of its common shares.

The record and effective date for the reverse split is November 19, 2008. InsynQ currently had 1,527,749,361 common shares issued and outstanding. After the reverse split, there will be approximately 30,554,988 shares issued and outstanding. The Board of Directors declared the reverse split in accordance with NRS 78:207 and, accordingly, the amount of common shares authorized will be reduced from 2,000,000,000 to 40,000,000.

"We have been working hard to generate positive EBITDA cash flow over the last several years, and we are hopeful that by re-capitalizing the Company, we can set a new foundation for our equity and begin to rebuild shareholder value," says John P. Gorst, Chairman and CEO of InsynQ, Inc.

About InsynQ

InsynQ has been delivering outsourced software application hosting and managed IT services since 1997. InsynQ allows business customers to "turn on" their software applications and workstations instantly through any web enabled computer, regardless of operating system. What's more, InsynQ subscribers can freely access their software and data from any computer, anywhere in the world. The company also offers IT and network integration consulting, multimedia development, a broad range of business application services, and infrastructure management services. For more information, visit us at www.insynq.com or call us at 253-857-9407.

Forward-Looking Statements

Statements made in this press release that state the Company or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to complete systems within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price competitive marketplace; changes in the nature of telecommunications regulation in the United States and other countries; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    John P. Gorst
    CEO
    253.857.9407