FLKI Approves Steps to Uplist to Higher U.S. Stock Exchange
07 Febbraio 2011 - 3:00PM
Marketwired
Falken Industries Ltd (OTCBB: FLKI) today announced the company is
preparing for a move to up-list to a more senior U.S. stock
exchange in response to rapid progress and solid gains in global
implantations of its product conceptions and growing global
interest in the Company's exceptional biodegradable product mixes,
including products, notably wipes for disinfection and degreasing,
designed for rescue teams, the military, and general utilities.
FLKI indicated that it believes it substantially meets the
requirements to up-list to a more senior U.S. stock exchange.
FLKI's Advisory Board approved steps that would initiate a
reverse stock split as early as this year, if needed, to meet
minimum stock price requirements of the senior U.S. stock exchanges
and is establishing audit, compensation and nominating committees
in advance of a planned up-listing.
"Moving to a senior U.S. exchange is a high priority for the
company given the progress of our business interest, the demand
upon our product conceptions, the major expansion of our
distribution network, and today's noted and growing global interest
in our Eco Pledge unique standard for ensuring "Green" products.
Listing on a more senior U.S. exchange will help increase
visibility for the company and help to attract a broader class of
institutional investors," said Manuel Garcia, Communications
Officer.
"This is particularly consistent with the demands of
shareholders voiced at last year's shareholder meeting which
motivated the company to for the first time in a decade devote any
resource or interest to investor awareness" added Garcia.
Clean Plus® products, FLKI's most popular branded line of
product conceptions, include disinfection and cleansing wipes
tailored to crisis and disaster rescue teams, and notably to
military applications, and products to purify brackish water.
Custom wipes allow military and rescue personnel to ensure health
and cleanliness while essentially eliminating the need for water in
parts of the world devastated by intense drought conditions.
"We have already received significant interest from new
distribution platforms from a number of countries spanning most of
the continents and are expanding existing facilities. Appointments
could equate to many millions of dollars in both revenue and net
income the first and second years," said Garcia.
About Falken Industries Ltd:
Falken Industries Ltd (OTCBB: FLKI) is a diversified industrial
conglomerate that operates in Chemicals, Wet Wipe and Biodegradable
Technology. Falken Industries Ltd is the concept behind more than
160 products distributed through a network of global platforms and
the recipient of trade awards for innovations, biodegradability and
environmental and health quality standards.
SAFE HARBOR STATEMENT: This news release contains
"forward-looking statements" made pursuant to the safe harbor
provisions of the 1995 Private Securities Litigation Reform Act.
"Forward-looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"future," "plan" or "planned," "will" or "should," "expected,"
"anticipates," "draft," "eventually" or "projected." Such
statements are subject to risks and uncertainties that could cause
future circumstances, events, or results to differ materially from
those projected in the forward-looking statements, including the
risks that our products may not achieve customer acceptance or
perform as intended, that we may be unable to obtain necessary
financing to continue operations and development, and other risks.
You should consider these factors in evaluating the forward-looking
statements included herein, and not place undue reliance on such
statements.
Contacts: Falken Industries Ltd Manuel Garcia Communications
Officer +1 609 357 0316 mgarciafaure@falkenltd.com
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