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BizRocket.com, Inc. Announces Board Approval for Share Buyback(July 02, 2012)
CORAL SPRINGS, FL -- (Marketwire) -- 07/02/12 -- BizRocket.com, Inc. (PINKSHEETS: BZRT) announces that at a Special Meeting of the Board of Directors of the Company, the Board authorized a buyback of the Company's free-trading common shares. The Resolution adopted authorizes the Company to purchase up to fifty-five million common shares on the open market. The Chief Executive Officer maintains authority for purchase discretion of periodic volume amounts and the timing of share purchases.
The shares will be returned to the Treasury of the Company and may be used for issuances for future acquisitions of companies which the company is either currently in negotiation with or seeking to acquire to enhance shareholder value.
The Company recently concluded a revenue sharing letter agreement with www.ViralPwnage.com online gaming site that has approximately 34,000,000 participating players throughout the world with a sub-set of 15,000,000 participating players age 8-17, the KidzRocket.com's target market.
"BizRocket.com, Inc. continues to progress in our efforts to bring further added value to our shareholders," said Robert G. Williams, CEO of BizRocket.com, Inc. "We will be updating our shareholders in the near future for corporate news in regards to acquisition or joint partnership candidates."
Safe Harbor Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 including statements relating to expectations of the 2012 or 2013 fiscal year; The terms and phrases "estimated" "goal," "commitment," "possible," "guidance," "expects," "would," "will," "continuing," "drive," "believes," "indicate," "look forward," "grow," "outlook," "forecasts," "forecast," "projected," and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by BizRocket.com, Inc. in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that BizRocket believes are appropriate in the circumstances, including but not limited to general economic conditions, BizRocket's expectations regarding its business, strategy and prospects, and BizRocket's confidence in the cash flow generation of its business. Many factors could cause BizRocket's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation: risks related to competition; BizRocket's reliance on key personnel; BizRocket's ability to maintain and enhance its brand; and difficulties in forecasting BizRocket's financial results, particularly over longer periods given the rapid Internet-technological changes and competition. BizRocket.com, Inc. has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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