SOURCE: Banneker, Inc.

Banneker, Inc.

September 09, 2010 09:25 ET

Banneker, Inc. Announces Corporate Action

DENVER, CO--(Marketwire - September 9, 2010) -  Banneker Inc. (PINKSHEETS: BANI) ("Banneker" or the "Company") announces today that a 1-for-1000 reverse stock split will take effect at the opening of trading on Thursday, September 9, 2010. The new symbol on this date will be BANID. Please note that the "D" will be removed 20 business days from September 9, 2010.

Derrick Holmes, Chief Executive Officer of Banneker, stated: "We consolidated our shares to better assist the company's ability to raise funds for its future development. We believe that this reorganization may result in our capital stock to become more attractive for institutional investors. This belief is based on historical performance and share prices of comparable micro cap companies currently trading on U.S. stock exchanges, which generally benefit from a larger base of both institutional and individual investors."

In addition, the Board is happy to announce that almost eighty electronic shareholders participated in the Notice to Shareholders released August 16, 2010. Those electronic shareholders that registered with the company have been protected from the dilutionary effects of this restructuring. This action has increased the holder of record base which better positions Banneker to elevate itself on a higher exchange of which one of the minimum requirements is 400 shareholders.

Over the third quarter, the company continues to position itself for massive growth and is still in talks with key individuals to assist in this process. This is all in line with establishing an all star line up to bring Banneker, Inc. into the future and to help bring awareness to the Banneker brand.

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About Banneker, Inc.
Banneker is a designer and distributor of unique watches and clocks initially aimed at watch connoisseurs and affluent African-American families. Banneker Watches is uniquely positioned to access this market because its name is based on historical figure Benjamin Banneker who is an African-American that created the first clock made in America entirely out of wood. In his honor, all of our timepieces will feature luxury woods.