|By Marketwired .||
|August 30, 2013 02:20 PM EDT||
KENOSHA, WI -- (Marketwired) -- 08/30/13 -- Pacific Sands, Inc. (OTCQB: PFSD) (PINKSHEETS: PFSD) (www.pacificsands.biz), which manufactures environmentally friendly, non-toxic pool and spa treatment products, and liquid and powder cleaning, laundry, and personal care products, today announced the company has repurchased 500,000 shares of its common stock in a private transaction. The total compensation for these shares was $25,000 and represents approximately 0.8% of the outstanding shares prior to purchase.
"With sufficient capital to support operations, and the opportunity to buy back these shares, we felt this provided an excellent opportunity to generate shareholder value," explained Michael Michie, President and CEO. "We expect to report our audited financials for the fiscal year and quarter ended June 30, 2013, and anticipate a profit in fiscal fourth quarter. Achieving consistent quarterly profitability has been an important long-term goal for the company. Our continuing sales growth, strengthened balance sheet and margins give us considerable encouragement for fiscal 2014."
About The Company
Pacific Sands, Inc. (www.pacificsands.biz) is a rapidly growing company that develops, markets and sells unique non-toxic, earth-, health- and child-friendly products for cleaning, personal hygiene, and water maintenance applications. The company's ecoone® Spa Treatment system earned a third place finish in the "Best Green Product" category at the International Pool and Spa show held November 2012 in New Orleans. In 2011, the company was recognized by a Milwaukee-based business publication as the fastest growing public company in Wisconsin. Wal-Mart's Innovation Network awarded one of the company's products the highest "Success Likelihood Score" ever granted in the program's 22-year history.
Safe Harbor Act Disclaimer
The statements contained in this release and statements that the company may make orally in connection with this release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected in the forward-looking statements, since these forward-looking statements involve risks and uncertainties that could significantly and adversely impact the company's business. Therefore, actual outcomes and results may differ materially from those made in forward-looking statements.
President & CEO