SOURCE: AcuMedSpa Holidays Inc.

November 03, 2009 10:30 ET

AcuMedSpa Holdings, Inc. Board of Directors Announces Authorization to Retire 230,000,000 Shares as Well as a Commitment to No Further Share Issuance

AVENTURA, FL--(Marketwire - November 3, 2009) - AcuMedSpa Holdings, Inc. (PINKSHEETS: AMSZ) is pleased to announce that its Board of Directors has initiated the process of retiring 230,000,000 shares of common stock, over 66% of the total outstanding shares. The retirement of the common stock will be completed over the next 30 days.

AcuMedSpa Holdings is fully committed to its shareholders to maintain and increase shareholder value. The retirement of shares, projected revenue growth and no dilution stance further strengthens this commitment. The company trusts that with the tools and assets it currently possesses, it will be able to fully achieve its previously stated goal for 2010 of over $10,000,000.00 in revenue and EBITDA of over $2,000,000.00 without any further issuance of equity. Debt will only be issued as an instrument for the acquisition of productive assets. Said debt would not be in the form of convertible debentures and only as straight debt.

Brian Sperber, President of AcuMedSpa, stated, "We are extremely excited for the future of our business and our promised exponential growth projections. These next weeks and months are going to be very exciting for all of us. We want to thank our valued shareholders for their support and the trust they have deposited in us by investing in the vision of AcuMedSpa. We are retiring the shares of common stock in order to build value for our shareholder base and as a commitment to the long-term health of our company. Once completed, we will update our shareholders as well as release the transfer agent for share structure requests."

For further info please visit our website

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and AcumedSpa Holdings. Inc takes no obligation to update such statements

Contact Information

  • Contacts:
    Brian Sperber