RED BANK, N.J., Nov. 26, 2004 (PRIMEZONE) -- Atlantis Business Development Corporation (OTCBB:ATBD) announced today that it has effectuated a 1 for 100 Reverse Stock Split. Pursuant to this Reverse Stock Split shareholders will receive one share of common stock for every one hundred shares of common stock held of record. Any fractional shares resulting from this reverse split will be rounded off to the next whole share. Approved by Atlantis' Board of Directors on November 18, 2004, this share consolidation becomes effective today.
Atlantis has implemented the Reverse stock split for the company's greater good. As a BDC, the future of Atlantis Business Development Corporation depends on acquiring new business entities and giving back to our shareholders a return on their investment. By undertaking the reverse split, Atlantis has increased opportunities to begin new acquisitions and reverse mergers. The company has already begun negotiations with several funding organizations which will allow Atlantis Business Development Corporation to establish itself as a powerhouse for business development.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The statements contained in this news release include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices. With respect to Atlantis Business Development Corp. (ABDV), except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, ABDV's extremely limited operating history, uncertainties related to the Company's access to additional capital, competition and dependence on key management.