Bentley Commerce Corporation Implements Reverse Split and Receives New Trading Symbol BLYO
Bentley Commerce Corporation Implements Reverse Split and Receives New Trading Symbol BLYO
Jun. 26, 2007 11:32 AM
BRADENTON, FL -- (MARKET WIRE) -- 06/26/07 -- Bentley Commerce Corporation (PINKSHEETS: BLYO) (www.bentleycommerce.com), a provider of barter, trade, media, asset
management and alternative capital financial transactions for businesses
and barter exchanges, announced that the reverse stock split of the
Company's outstanding common stock, at a ratio of 1-for-500 shares, is
effective today, June 26, 2007. In addition, the company's stock symbol has
changed from BLYC to BLYO and will continue to trade on the OTC Pinksheets.
Its new CUSIP Number is 08264E 103.
Under the terms of the reverse stock split, for every 500 shares of issued
and outstanding common stock, a shareholder will receive one share of
common stock.
"Our Board of Directors determined that this was an appropriate time to
implement a reverse stock split to improve our capital structure and
facilitate the acquisition of the Radio Forecast Network
(www.radioforecastnetwork.com)," said Robert Schumacher, President of
Bentley Commerce. "We believe this action will enable Bentley Commerce to
complete acquisitions, create liquidity, increase awareness of its shares
among potential investors, and enhance the Company's value for all its
stockholders."
Bentley Commerce recently signed a nonbinding letter of intent to acquire
the Radio Forecast Network that provides "recorded-live" weather reports to
radio stations in exchange for advertising inventory it sells to clients
nationwide. The acquisition of the Radio Forecast Network is dependent on
the Parties completing due diligence and executing a Final Agreement.
The Radio Forecast Network, founded by Larry Usner in 2004, currently earns
over $600,000 per month in radio spot advertising inventory on 220 radio
stations in 37 states in addition to Puerto Rico and the Virgin Islands
that it then sells to advertisers. It receives the advertising inventory in
exchange for delivering over 40,000 professionally recorded-live weather
reports that air about 500,000 times each month. It has been growing at the
rate of 40% per year, adding an average net gain of four to five new client
stations per month.
In addition to expanding its weather forecast business, Bentley Commerce
plans to exponentially grow the Radio Forecast Network's advertising
inventory by providing content beyond local weather reports to broadcast
radio station clients. New content may include recorded-live sports, news
and stock market micro-cap reports. Plans are also underway to expand to
other countries, as well as provide services to emerging new media, such as
the Internet, in exchange for advertising inventory.
In Other News:
Bruce Kamm, former CEO of Bentley Commerce, has been elected its new CEO,
Treasurer and a member of its Board of Directors. Robert Schumacher is now
its Chairman, President and Corporate Secretary.
Forward-Looking Statements:
The information in this Press Release includes certain "forward-looking"
statements within the meaning of the Safe Harbor provisions of Federal
Securities Laws. Investors are cautioned that such statements are based
upon assumptions that in the future may prove not to have been accurate and
are subject to significant risks and uncertainties, including the future
financial performance of the Company. Although the Company believes that
the expectations reflected in its forward-looking statements are
reasonable, it can give no assurance that such expectations or any of its
forward-looking statements will prove to be correct. Readers are cautioned
not to place undue reliance on these forward-looking statements that speak
only as of the date of this release, and the Company undertakes no
obligation to update publicly any forward-looking statements to reflect new
information, events, or circumstances after the date of this release except
as required by law.
Contact:
Bob Schumacher Email Contact
Phone: 941-870-4952
Fax: 941-827-9777 www.bentleycommerce.com
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