SOURCE: Exit Only, Inc.

March 28, 2011 09:45 ET

Exit Only, Inc. Retires 1.2 Billion Shares of Common Stock in Preparation for Acquisition; Outstanding Shares Reduced by Nearly 70%, Positions the Company for Strong Growth

SANTA MONICA, CA--(Marketwire - March 28, 2011) - Exit Only, Inc. (PINKSHEETS: EXTO) today announced that its President Diana Shats retired 1.2 billion shares of common stock that she owned in the Company in order to increase shareholder value and to facilitate acquisitions that management has been negotiating. Diana Shats commented, "My goal since my management team assumed the helm at the Company is driven by a unified mandate to increase shareholder value. Toward that end, we have started a new subsidiary entitled Shats Lighting Solutions to house the technology and patents recently acquired. Furthermore, we recognized that the capital structure needed to be refined to accommodate the Company's progressive acquisition strategy in a manner that did not involve any kind of reverse stock split. Accordingly, I decided to retire 1.2 billion shares of my personal stock for the benefit of shareholders."

The retirement of the shares was reflected on the books and records of the Company as of March 24, 2011. No other warrants, rights, options or convertible instruments were issued in connection with the retirement of shares. The only other corporate change was the implementation of an anti-takeover strategy which increased the voting power of the Series A Preferred Shares to 1000 times voting power. The shares still convert on a 1:1 basis to common which would only create an addition 2 million shares of common stock, when and if converted. The increased voting power maintains management's control over the Company despite being reduced in actual ownership. The board accepted the retirement of shares in order to position the Company for a number of acquisitions that can strengthen the Company and shareholder value. The Company presently has just under 541 million shares of common stock outstanding, with 479 million shares in the float. 

About Shats International Holdings, Inc.

Shats International Holdings, Inc. business model is centered around an array of subsidiary acquisitions with its primary focus identify strategic growth companies, intellectual properties, and assets within the US and abroad that will bring significantly enhanced valuation to its shareholders through a vast and diverse field of industries. Additional information will be available shortly at both Pinksheets.com and the Company's website. http://www.shatsholdings.com/

Cautionary Note Regarding Forward Looking Statements

This press release and the statements of representatives of Exit Only, Inc. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, SIH's ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pinksheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.

Contact Information

  • CONTACT:
    Investor Relations
    Briggs Smith
    813-438-5225
    Email Contact

    Shats International Holdings, Inc.
    800-406-7906
    Email Contact