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GlobeTrac Inc. Announces Name Change to Poly Shield Technologies Inc. and One-For-Three Reverse Split(July 13, 2012)
BOCA RATON, FLORIDA -- (Marketwire) -- 07/13/12 -- Poly Shield Technologies Inc., formerly "GlobeTrac Inc." (OTCBB:GBTRD) ("Company") announces that effective July 11, 2012, the Company changed its name to "Poly Shield Technologies Inc." (the "Name Change").
Also, effective July 11, 2012, the Company effected a consolidation of its issued and outstanding common stock on a one-for-three basis (the "Reverse Split"), without decreasing its authorized capital. Accordingly, the Company's issued and outstanding shares were decreased from 100,183,198 shares of common stock to approximately 33,394,000 shares of common stock (not accounting for fractional share interests being rounded up to the next whole share).
As a result of the Name Change and Reverse Split, the Company's common stock will trade under the symbol "GBTRD" for a period of 20 days commencing July 12, 2012. After 20 trading days, the appended "D" will be dropped from the Company's symbol.
On Behalf of the Board of Directors
Mitchell Miller, Director, President, and C.E.O
Forward Looking Statements
This press release contains forward-looking. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects", "intends", "estimates", "projects", "anticipates", "believes", "could", and other similar words. All statements addressing product performance, events, or developments that Poly Shield Technologies Inc. expects or anticipates will occur in the future are forward-looking statements. Because the statements are forward-looking, they should be evaluated in light of important risk factors and uncertainties. Should one or more of these risks or uncertainties materialize, or should any of Poly Shield Technologies Inc.'s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Poly Shield Technologies Inc.'s forward-looking statements. Except as required by law, Poly Shield Technologies Inc. disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. No stock exchange has reviewed nor accepts responsibility for the adequacy or accuracy of this release.
SOURCE Poly Shield Technologies Inc.
Poly Shield Technologies Inc.
Director, President, and C.E.O
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