LAS VEGAS, Sept. 3, 2008 (GLOBE NEWSWIRE) -- MetaPower International, Inc. (Pink Sheets:MTPW) announced that the Company has implemented a 500 to 1 reverse stock split of its outstanding common stock effective today, dramatically reducing its outstanding share count from five billion to ten million. The Company has restructured its common stock in order to better position itself in the financial market.
The MetaPower International Board of Directors recently approved the capital restructuring in order to reduce market volatility that its shares have experienced, and to position itself at higher trading levels in the next six to twelve months. The Company has also undergone a symbol change in concert with the reverse split. MetaPower International will now trade under the symbol (Pink Sheets:MTPR).
"We felt the capital restructuring was a necessary step for MetaPower International to better position the Company in the financial market. Our revenue over the last three quarters has grown tremendously and we believe that reducing the size of our outstanding share count is a pivotal step in achieving our overall goals this year," stated Ken Allen, President of MetaPower International, Inc.
About MetaPower International, Inc.:
MetaPower International, Inc. is a technology firm founded in 1996 that provides information technology and change management services to hazardous process industries. This link between technology and services is critical to enable the changes necessary to successfully compete in the current environment. In today's competitive world, business operations must be streamlined if new levels of performance and operational excellence are to be achieved.
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.