SOURCE: Ulysses Diversified Holdings Corp.

August 04, 2008 09:06 ET

Ulysses Diversified Holdings Corp. Board of Directors Approves a Reduction in Its Authorized Common Shares and Other Corporate Actions

JACKSONVILLE, NY--(Marketwire - August 4, 2008) - Ulysses Diversified Holdings Corporation (PINKSHEETS: UDHC) today announced that its Board of Directors over the weekend has approved a twenty (20) percent reduction of the company's authorized common shares.

This corporate action will reduce the current authorized common shares from one hundred million (100) to eighty million (80) common shares with an overall share structure of:

80,000,000  Common Shares
53,642,312  Restricted Shares (for one year/utilized for the SecureNetView
19,800,000  Common Shares  (Being Held in the Company Treasury for Pending
 6,557,688  In the Public Float

The Board of Directors also authorized per corporate resolution that if current pending acquisitions are not executed within the next thirty (30) days that the 19,800,000 common shares being held in the company's treasury will be returned to the Transfer Agent and further reduce the authorized common shares by the same equal amount (19,800,000).

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Contact Information

  • Contact:

    Ulysses Diversified Holdings Corp.
    Investor Relations
    Tel: 1-607-387-7353