SOURCE: Cloud Centric Systems, Inc

December 22, 2010 08:40 ET

Cloud Centric Systems, Inc. Files Forms With the State of Florida to Decrease the Authorized Share Capital

CLDR Continues to Follow Through on Its Promises

LONDON--(Marketwire - December 22, 2010) -  Cloud Centric Systems, Inc. (PINKSHEETS: CLDR) CEO David Lovatt announces today that the company has completed the required paperwork to reduce he Authorized Share Capital by 40%. The filing calls for the change in Authorized to take effect on January 10th 2011.

"We have a program of increasing shareholder value and we are following through with it," stated Lovatt. "Firstly, we are continuing to make the share capital more attractive to investors and encouraging buyers into the stock. Secondly, we are continuing to aggressively grow the revenues of the business quarter on quarter. 

"We believe that we have an excellent chance to hit our aims of increasing shareholder value tenfold during Q1 of 2011from its early December figure and of breaking through the 0.0005 barrier in the coming days," continued Lovatt.

Cloud Centric Systems recently announced that its officers had agreed to retire their common stock holding in place of locked in preferred stock. Whilst the undertaking from the officers was that this would be completed by the middle of January 2011, it is understood to already be underway.

About Cloud Centric Systems: Cloud Centric Systems specializes in cloud based technologies that use the Internet to deliver business critical applications via a global network of partners. Cloud Centric Systems plans to grow via strategic acquisition over the coming 12 months as well as strong sales through its subsidiaries Cloud Centric Systems (UK) Ltd and VizualMobile Ltd.

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Safe Harbor Statement:

The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.

Contact Information

  • CLDR contact:

    Investor Relations
    (347) 404 5346