Published:
Caddo International, Inc. Announces New Stock Symbol and Reverse Stock Split, Effective at Market Open October 17, 2007
Caddo International, Inc. (PINKSHEETS: CADD)
(formerly PTLD.PK) announced today its Board of Directors has declared a
reverse stock split of its common stock at the ratio of one share for each
thirty shares. The reverse split is effective today, October 17, 2007. The
Company has made all such necessary filings. As a result of this split,
every thirty shares of PTLD common stock is exchanged for one share of
common stock and shareholders are not required to return their certificates
to the Company or the transfer agent. No scrip or fractional certificates
will be issued and the Company's shares will continue to trade on the Pink
Sheet Board with the symbol CADD.PK. All registered stockholders of PTLD
who hold existing share certificates will receive a letter from the Board
of Directors in the very near future.
Mr. Mario Lanza, President of the Company, stated, "Today's action resulted
from a series of recent events within the Company which the Board believes
will permit its common shares to more accurately reflect their true value."
Mr. Lanza added that the reverse split will also facilitate the Company's
ability to make acquisitions currently in negotiation and provide a clear
context for existing and potential shareholders. Mr. Lanza concluded,
"Today's action is an important step in the execution of the Company's
strategic business plan to build for the future and thus to ensure the
profitable growth of the Company."
The Company also announced today that as a result of the reverse split its
common stock has a new symbol CADD.PK, which is in line with the recent
change of the Company's name to Caddo International, Inc.
About Caddo International, Inc.:
Caddo International, Inc. is a provider of products and services to the oil
and gas industry. The Company provides and integrates products and services
through exploration, development, production, operation and maintenance in
the Louisiana and Texas regions.
The statement in this press release regarding any implied or perceived
benefits from existing oil and gas field properties, actual reserves and
revenues to be derived from the reserves, plans to drill additional oil and
gas wells, anticipated revenues, the acquisition of additional oil or gas
leases, maintaining mineral lease rights, and any other effects resulting
from any of the above are forward-looking statements. Such statements
involve risks and uncertainties, including, but not limited to, the
continued production of gas at historical rates, costs of operations,
delays, and any other difficulties related to producing minerals such as
oil or gas, continued maintenance of the oil field and properties, price of
oil or gas, marketing and sales of produced minerals, risks and effects of
legal and administrative proceedings and governmental regulation, future
financial and operational results, competition, general economic
conditions, and the ability to manage continued growth.
Forward-Looking Statements - Safe Harbor:
Certain information discussed in this press release may constitute
forward-looking statements within the Private Securities Litigation Reform
Act of 1995 and the federal securities laws. Although the Company believes
that the expectations reflected in such forward-looking statements are
based upon reasonable assumptions at the time made, it can give no
assurance that its expectations will be achieved. Readers are cautioned not
to place undue reliance on these forward-looking statements.
Forward-looking statements are inherently subject to unpredictable and
unanticipated risks, trends and uncertainties such as the Company's
inability to accurately forecast its operating results; the Company's
potential inability to achieve profitability or generate positive cash
flow; the availability of financing; and other risks associated with the
Company's business. The Company assumes no obligation to update or
supplement forward-looking statements that become untrue because of
subsequent events.
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