SOURCE: Global IT Holdings Inc.

August 07, 2008 09:00 ET

Global IT Holdings Inc. Updates Shareholders on Future Plans

Global IT Holdings Inc.'s Chief Executive Officer Provides Update to Shareholders Regarding the New Direction of the Company

CAMPBELL, CA--(Marketwire - August 7, 2008) - The CEO of Global IT Holdings Inc. (PINKSHEETS: GITH) issues the following statement: "Since my appointment as Chief Executive Officer of Global IT I have been working diligently towards bringing the company up to date on all of its administrative obligations. I am pleased to give you some information regarding the direction of the company; in the coming weeks and months the company will have a name change and a ticker symbol change. This change will not include a reverse split of the stock. We will continue to be a holding company but under a new name and new board of directors. Also included in this will be the addition of a company that we have completed a Letter of Intent with. It is a Green Tech company based out of the San Francisco Bay Area who will be a subsidiary of the newly formed company. The company is expanding rapidly and has some pretty exciting things being developed. I will ensure that shareholders are updated as we progress towards value."

Safe Harbor Statement: The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Eric Stratton Racheff
    Global IT Holdings Inc.
    408-355-8073