SOURCE: Elysium Internet, Inc.

Elysium Internet, Inc.

November 19, 2010 09:25 ET

Elysium Internet Attains "Current Information" Status on OTC Markets and Announces Plans to Cancel Shares

TAMPA, FL--(Marketwire - November 19, 2010) - Elysium Internet, Inc. dba "TheDirectory.com" (PINKSHEETS: EYSM) today announced that OTC Markets, Inc. has notified the Company that prior to the market open Friday, it will remove the caveat emptor warning previously assigned to the company and move it to the "Current Information" listing status on www.OTCMarkets.com. This status lets investors know that Elysium Internet has provided the financial disclosure and other required paperwork to reach an increased level of transparency with regards to disseminating Current Information to the market that helps investors make informed investment decisions.

Elysium CEO Scott Gallagher commented, "This is a major milestone in EYSM's overall strategy to improve shareholder value and boost the liquidity of our stock. As part of our effort to improve our existing capital structure we'll be canceling two billion restricted common shares previously issued as security now that the CE designation has been removed. In addition, based on the development of our business, we'll plan to seek a reduction in the amount of authorized shares during the first quarter of 2011 if not sooner."

Companies that provided current disclosure to the public markets, directly through Pink OTC at the Pink Sheets Current Information Market Tier, averaged $43,282,661 in dollar volume per security in 2009. This total represents over 67% of all dollar volume traded in OTCQX, OTCBB, and other Pink Sheets securities combined for the entire year.

OTC Markets Inc. is a privately owned company based in New York that provides a suite of products and services for the U.S. OTC securities market. The company operates electronic quotations, trading, messaging, and information platforms.

About EYSM

Elysium Internet is an emerging leader in the local online search and marketing. The Company is building a direct navigation-based Internet advertising network anchored by its local business search engine www.TheDirectory.com. Elysium builds targeted professional directories over category killer Dot Com and Dot Net domain names such as www.TheDirectory.com, www.Podiatrists.com, www.Chiropractor.net, www.Psychiatrists.com, www.Pediatricians.com, www.Dietitians.net, www.Auditors.com, www.Therapists.net and others. For more information visit the Company web site www.ElysiumInternet.com. Review the Company's filings with the Securities and Exchange Commission at http://www.SEC.gov

Forward-Looking Statements

Certain statements contained herein are "forward-looking" statements (as defined -- Private Securities Litigation Reform Act of 1995). Elysium Internet, Inc. cautions that the statements made in this press release constitute forward-looking statements and no guarantees of future performance and actual results or developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made.

Contact Information

  • Contact:
    Scott Gallagher
    727-417-7807