US National Telecom Announces Effectiveness of Changes Made to Authorized Common Stock
18 April 2012 - 11:00PM
Marketwired
US National Telecom, Inc. (PINKSHEETS: USNL) announces that the
Florida Secretary of State has approved our amendment to reduce the
authorized common shares effective as of April 12th, 2012. The
Board approved a 500 million share reduction down to four billion
five hundred million shares authorized.
The current capitalization of US National Telecom, Inc. is as
follows and is unchanged from its previous announcements. As of
April 18, 2012 there are currently 3,475,250,391 shares issued and
outstanding of which 3,000,210,033 are restricted and 475,040,358
are free trading.
CEO Rebecca Guthrie stated, "The effectiveness of this change is
a positive step in the right direction. The company has not ruled
out further reductions in its authorized common stock. The issued
and outstanding remains unchanged and is a concern for many
shareholders that the company has issued stock lately but this is
not the case. We are in discussions with several real estate
management companies that include Remax, Coldwell Banker and Rent
Solutions Inc, and we look forward to working with them over the
coming months."
US National Telecom, through its subsidiary Florida Bay
Investments, Inc. plans to invest in cash flow properties in
multiple real estate markets throughout Florida. The markets that
have been targeted include Gainesville, Tampa, St. Petersburg,
Orlando, and Jacksonville, Florida. Further acquisitions in Miami,
Ft. Lauderdale, and Palm Beach, Florida are also being considered
in the due diligence currently underway.
US National Telecom is a Florida-based company. It is a
development stage company looking to acquire real estate interests
that offer positive cash flow returns. It has a website:
www.usnationaltelecominc.com
For further information please contact Rebecca Guthrie at 786
202 1023 or email info@usnationaltelecominc.com
Safe Harbor Statement
Information in this document constitute forward-looking
statements or statements which may be deemed or construed to be
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The words "forecast",
"anticipate", "estimate", "project", "intend", "expect", "should",
"believe", and similar expressions are intended to identify
forward-looking statements. These forward-looking statements
involve, and are subject to known and unknown risks, uncertainties
and other factors which could cause US National Telecom's actual
results, performance (financial or operating) or achievements to
differ from the future results, performance (financial or
operating) or achievements expressed or implied by such
forward-looking statements. The risks, uncertainties and other
factors are more fully discussed in US National Telecom's filings.
All forward-looking statements attributable to US National Telecom
here in are expressly qualified in their entirety by the
above-mentioned cautionary statement. US National Telecom disclaims
any obligation to update forward-looking statements contained in
this estimate, except as may be required by law.
Contact Rebecca Guthrie 786 202 1023 Email Contact
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