Reverse Stock Split Effective
HOLLYWOOD, Calif., Aug. 24, 2006 (PRIMEZONE) -- American Southwest Music Distribution, Inc. (OTCBB:ASWDE) announced today that its corporate name has been formally changed from GL Energy & Exploration, Inc. American's stock symbol has also been changed to "ASWD" on the OTC Bulletin Board from "GEEX." Our new stock symbol will initially have an "E" appended thereto until filing with the SEC of our Annual Report on Form 10KSB for the period ended April 30, 2006 and notification of the same to Nasdaq and the OTCBB. American also announced today the effectiveness of a 1-for-74 reverse split of its outstanding common stock.
American Southwest Music Distribution, Inc. was incorporated in the state of Delaware in 1998. The Company is based in Hollywood, California and specializes in the production, marketing and distribution of pre-recorded intellectual property music.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.