LYMAN, S.C., June 27 /PRNewswire-FirstCall/ -- Southern Home Medical Equipment, Inc. (Pink Sheets: SHMM; SHOM) announced today that it has completed a 1-for-1,000 reverse stock split. Effective at the open of market today, the Company will begin trading on a reverse split basis under its newly assigned symbol "SHOM" on the Pink Sheets.
Greg Tucker, President and CEO of Southern Home Medical, stated, "This reverse split is part of our overall strategy to create a more favorable capital structure as we pursue the expansion of our Encore Medical Staffing franchise. Effective today, the number of Southern Home common shares outstanding has been reduced from 2,044,249,015 to 2,044,249 shares. With a higher share price and more manageable share count, we are better positioned to attract and retain long-term investors, including institutional investors. We also are moving closer to our goal of becoming a fully reporting company to further increase our visibility and value."
About Southern Home Medical Equipment, Inc.
Southern Home Medical is a holding company with a focus on nurse staffing operations. Formed in January 2005, with its principal place of business in Lyman, S.C., Southern Home Medical will be expanding its operations through the start up and support of Encore Medical Staffing businesses on a national level. The majority of the staffing professionals consist of Registered Nurses, Licensed Practical Nurses and Certified Nursing Assistants. Encore Medical Staffing, Inc. is aggressively recruiting motivated nurse professionals interested in franchising opportunities.
Safe Harbor: This release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and Section 27E of
the Securities Act of 1934. Statements contained in this release that are
not historical facts may be deemed to be forward-looking statements.
Investors are cautioned that forward-looking statements are inherently
uncertain. Actual performance and results may differ materially from that
projected or suggested herein due to certain risks and uncertainties
including, without limitation, ability to obtain financing and regulatory
and shareholder approval for anticipated actions.
President & CEO
OTC Financial Network
|SOURCE Southern Home Medical Equipment, Inc.|
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