NORTHAMPTON, MA -- (Marketwire) -- 08/20/08 -- Somatic Systems, Inc. (PINKSHEETS: SMAS)
announced today that it will begin an aggressive share retirement program
within the next month. The company has been meeting with shareholders to
acquire large blocks of shares, so that it can cancel them to dramatically
decrease the amount of shares outstanding.
The company will announce the acquisitions and retirements of shares as
they are pending or have been completed starting over the next few weeks.
The company resolved to transact these share cancellations to restructure
the company's capital without conducting a reverse split of the stock.
While the company's existing share structure and significantly undervalued
market capitalization still provide tremendous room for growth in Somatic
Systems' share prices, a large number of outstanding shares still tends to
discourage buyers and demand for the stock.
"While we believe there is tremendous room for price per share increases
within our existing capital structure, we have a strong desire to grow our
stock price exponentially, and we know that shareholders are concerned
about large numbers of outstanding shares," stated Somatic Systems CEO
Steven Aronstein. "We think that removing as much as half our shares will
have a strong impact on the demand and price for our stock, and is a great
alternative to a reverse split."
About Somatic Systems, Inc.
Somatic Systems is the worldwide center for Clinical Somatics(TM), the
ground-breaking drug-free, non-surgical approach to pain relief. This
proprietary system uses natural, non-invasive movement techniques --
conducted through one-hour hands-on sessions, therapeutic exercises
classes, and home exercises lasting as little as 5 minutes a day -- to
relieve pain and limitation resulting from accident, trauma and repetitive
stress, including back pain, knee pain, joint problems, carpal tunnel
syndrome, TMJ, scoliosis, bursitis, sciatica, headaches, tendonitis and
more. Clinical Somatics(TM) also provides performance gains and injury
prevention for casual and professional athletes.
Somatic Systems is pursuing a 3-part growth strategy, consisting of a
nationwide rollout of pain management Somatics Clinics; increased
production and distribution of therapeutic videos, books, and other retail
self-help Somatics Products; and expanded Somatics Training Programs to
supply Clinic practitioners serving medical and orthopedic professionals
and institutional and corporate programs. The company operates a suite of
web sites offering Somatics information, products, resources, and
opportunities, at www.somatics.org.
Safe Harbor Act: This release includes forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 that involves risks and uncertainties including, but not
limited to, the impact of competitive products, the ability to meet
customer demand, the ability to manage growth, acquisitions of technology,
equipment, or human resources, the effect of economic business conditions,
and the ability to attract and retain skilled personnel. The Company is not
obligated to revise or update any forward-looking statements in order to
reflect events or circumstances that may arise after the date of this
release.
Contact:
For more information visit http://www.somatics.org
or contact:
Investor Relations
1 877 586-2555