SOURCE: Perihelion Global

March 21, 2007 13:21 ET

Perihelion Global Board of Directors Approves Resolution to Reduce Authorized Shares by an Additional 50%

WILMINGTON, DE and SANTA ROSA BEACH, FL -- (MARKET WIRE) -- March 21, 2007 -- Perihelion Global (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, today announced that its Board of Directors has reached unanimous consent to approve an additional 50% reduction in the company's authorized shares from approximately 500,000,000 to 250,000,000.

The most recent reduction follows the company's earlier reduction in February, and has now reduced the company's authorized shares by over 99.2% from the previous capital structure inherited from Perihelion's predecessor company.

Perihelion Global is committed to advancing its business goals with minimal dilution to shareholders. To date, an overwhelming majority of the transactions the company has executed have been financed with cash and restricted common stock. In some instances, like the Bond Financing Agreement with WR Taylor & Company, Perihelion Global has been able to find solutions that are both non-dilutive and of high-value to shareholders.

Commenting on the latest board resolution, Chairman, Chief Executive Officer & President John H. Beebe stated, "We have had some time to thoroughly examine our capital structure against our current and future projects, and felt that our earlier reduction in our authorized shares still did not completely bring us to appropriate levels in accordance with our objectives. The company exists for one reason, and for one reason alone, and that is to create a stable income-generating haven whereby investors in our company can participate and profit in sectors we feel will be vital to the economic stability of both our country and the rest of the world." Adds Beebe, "The company is not contemplating a reverse split and our management and directors have restricted stock which cannot be sold into the market. We are growing rapidly and will do everything in our power to make the growth our company as smooth as possible for our fellow shareholders. For us there is no option but success. The Board of Directors and Management Team greatly appreciate the continued support from our shareholders."

About Perihelion Global:

Perihelion Global focuses on the acquisition, development and management of technologies, strategic commodity reserves and assets in the energy, natural resource and communications markets. Perihelion's management team specializes in providing solutions for the strategic challenges of 21st Century. We lead with decades of experience in environments that are mission critical in today's global marketplace: Technology, Energy and Communications.


Caution Regarding Forward-Looking Statements

This press release contains historical information as well as forward-looking statements that are based upon our estimates and anticipation of future events that are subject to certain risks and uncertainties that could cause actual results to vary materially from the expected results described in the forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "hopeful," "intend," "may," "optimistic," "preliminary," "project," "should," "will," and similar expressions are intended to identify these forward-looking statements. There are numerous important factors that could cause our actual results to differ materially from those in the forward-looking statements. Thus, sentences and phrases that we use to convey our view of future events and trends are expressly designated as Forward-Looking Statements as are sections of this news release clearly identified as giving our outlook on future business.

These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following important factors that could affect the actual outcome of future events:

-- General economic conditions, either nationally or in our market area, that are worse than expected;

-- regulatory and legislative actions or decisions that adversely affect our business plans or operations;

-- price competition;

-- inflation and changes in the securities markets that adversely affect the fair value of our operations; and

-- changes in our organization, compensation and benefit plans.

We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and wish to advise readers that the factors listed above could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. We do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact Information

  • Contact:
    John H. Beebe
    Chairman, Chief Executive Officer & President
    Perihelion Global
    866-748-7610 (Toll Free) x 719