SET Corp

January 25, 2012 07:00 ET

SET Corp Reverse Splits Stock One-for-15, Effective January 25, 2012

UPLAND, CA--(Marketwire - Jan 25, 2012) - Sustainable Environmental Technologies (SET Corp) (OTCQB: SETS) (OTCQB: SETSD) (PINKSHEETS: SETS) (PINKSHEETS: SETSD) today announced that its one-for-15 reverse stock split will become effective January 25, 2012. The purpose of the reverse stock split is to raise the trading share price of SET Corp's common stock to improve liquidity for shareholders by attracting interest from a larger base of institutional investors and investment funds, and to give shareholders greater ability to place SET Corp shares with stockbrokers of their choice.

"SET Corp is making a strategic effort to increase shareholder value in multiple areas," said Bob Glaser, SET Corp CEO. "As we expand our ProWater saltwater disposal (SWD) well facilities into the Bakken Shale, the reverse split will decrease our number of outstanding shares, increase our share price and bring it closer to the point where it is marginable. This makes for a more attractive investment option to a larger portion of the financial community, thus improving liquidity. It is our desire to eventually move onto one of the listed exchanges and this brings us one step closer to realizing that goal."

For 20 days beginning January 25, 2012, FINRA will append a letter "D" suffix to SET Corp's ticker symbol (OTCQB: SETSD) to indicate the completion of the reverse split. After that period, the ticker will revert to "SETS."

Beginning January 25, 2012, every 15 shares of SET Corp's pre-split common stock will automatically be converted into one share of post-split common stock. Par value of $0.001 per share will remain unchanged. Shareholders with stock deposited in a brokerage account do not need to take any action, as the conversion will be automatic. Holders of paper stock certificate do not need to take any action, as certificates will automatically be converted to the post-split number of shares when deposited into a brokerage account or exchanged through the transfer agent. However, for any shareholder who desires to exchange their paper pre-split certificate(s) for a paper post-split certificate(s), please contact Computershare at 1-800-962-4284.

About SET Corp:

Sustainable Environmental Technologies Corp. (SET Corp), through subsidiaries such as ProWater, LLC, acquire, develop and market strategic technologies that responsibly and economically solve environmental issues to bridge the gap between today's energy-inefficient facilities and the sustainable development and design needs of tomorrow. SET Corp's technologies deliver essential resources for business operations while reducing their customers' environmental impact and conserving essential and diminishing resources. SET Corp's offering includes treatment, recovery, reclamation and re-injection services for produced water from oil and gas production and ultra-efficient tri-gen systems that offer combined cooling, heating, and power generation with the added capability of water production from a single energy source. Ticker: OTCQB: SETS,

Safe harbor statement
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the Company's results of operation, financial position and long-term strategies. These forward-looking statements involve risks and uncertainties that include, among others, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, and fraud. More information about factors that potentially could affect SET Corp's financial results are included in SET Corp's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-Q or 10-K and subsequent filings.

Contact Information

  • For more information, contact:

    For SET Corp or ProWater:
    SET Corp
    +1 801 810 9888
    Email Contact

    +1 303 937 6556
    Email Contact

    Julie Shepherd
    Accentuate PR
    +1 801 810 9888X701
    Email Contact