SOURCE: Wireless Data Solutions, Inc.

August 09, 2007 15:47 ET

Wireless Data Solutions Announces Merger, 1-for-100 Reverse Stock Split, and New Trading Symbol "WDSL"

ST. CLOUD, MN--(Marketwire - August 9, 2007) - WIRELESS DATA SOLUTIONS, INC. (PINKSHEETS: WDSL) (PINKSHEETS: WDSO) today announced that its Board of Directors and shareholders have approved a Plan of Merger that merges the Company into a wholly owned subsidiary of the same name, Wireless Data Solutions, Inc. (Nevada), in order to change the corporation's state of domicile from Utah to Nevada. Pursuant to the Plan of Merger the Board of Directors and shareholders approved a 1-for-100 reverse split of its common stock. Shareholder approval was obtained by the Company's stockholders on June 29, 2007 at a special shareholder's meeting. The reverse stock split will be effective on Thursday, August 9, 2007. WIRELESS DATA SOLUTIONS, INC.'s new trading symbol will be "WDSL."

The reverse split will reduce the number of shares of the Company's common stock outstanding from approximately 20,075,980 to approximately 200,815.

Information for Stockholders

Upon execution, WDSO stockholders will receive one new share of WDSL common stock for every one hundred shares held of WDSO. Record holders of WDSO common stock received a copy of the Plan of Merger with the notice of the shareholder meeting sent in June. Stockholders with shares in brokerage accounts will be contacted by their brokers with instructions. Computershare Trust Company will act as the exchange agent, and can be contacted at (303) 262-0600. WIRELESS DATA SOLUTIONS, INC. will not issue fractional shares as a result of the reverse stock split. Fractional shares will be rounded up.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties.

Although Wireless Data Solutions, Inc. believes the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by Wireless Data Solutions, Inc. or any other person that the objective and plans of Wireless Data Solutions, Inc. will be achieved.

Contact Information

  • Contact Info
    Trey Stock
    Corporate Counsel