SOURCE: Michael James Enterprises, Inc.

Michael James Enterprises, Inc.

February 08, 2017 08:00 ET

MJTV CEO Officially Retires 8,425,000 Shares As Promised

WHIPPANY, NJ--(Marketwired - Feb 8, 2017) - Michael James Enterprises, Inc. (OTCQB: MJTV) is extremely pleased to report that as promised on December 22, 2016, CEO, James M. Farinella last week retired 8,425,000 shares. This retiring of shares had the effect of reducing the outstanding number of shares from 25,029,572 down to 16,604,572 -- a 33.6% reduction.

MJTV Board of Directors and Management team is committed to keeping a very clean capital structure that is conducive to the building of shareholder value. The Company also intends to retire an additional 750,000 shares in the next 30 days as well.

MJTV CEO, James M. Farinella stated, "It is important to us to follow through on our promises. We are committed to a strong capital structure. While there is a lot of work to do, we are very excited about where we are with our VOLUPTAS product, the development of website and product line."

Safe Harbor Statement This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "will," "expects," and other terms with similar meaning. Forward-looking statements are based on current beliefs, assumptions and expectations and speak only as of the date of this release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. We assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.

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