SOURCE: Solei Systems, Inc.

March 19, 2008 09:30 ET

Eli Enterprises, Inc. Announces Reverse Stock Split and Share Exchange With Solei Systems, Inc., Resulting in Name Change, and New Stock Symbol

BOCA RATON, FL--(Marketwire - March 19, 2008) - The Board of Directors of Eli Enterprises, Inc. (PINKSHEETS: ELIN) (the "Company") announced today that it had voted to enter into a share exchange with Solei Systems, Inc. (PINKSHEETS: SOLI), Cleveland, Ohio, effective today March 19, 2008. Following the share exchange, the Company will change its name to "Solei Systems, Inc." and change its stock symbol to "SOLI." In addition, the previously announced reverse split in the Company's common stock in a ratio of 20:1 will be effective the same day.

Safe Harbor Statement

Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.

Contact Information

  • Contact:
    Solei Systems, Inc.
    Phone: 561-962-4124