Business
Southern ITS International, Inc. Is Announcing a Reduction in Authorized Common Shares and Its Continued Successful Business Plan Execution
Southern ITS International, Inc. Is Announcing a Reduction in Authorized Common Shares and Its Continued Successful Business Plan Execution.
About this update from Southern Its International Inc.
[{"type":"text","content":"\n \n \n Southern ITS International, Inc. Is Announcing a Reduction in Authorized Common Shares and Its Continued Successful Business Plan Execution\n \n \nSouthern ITS International, Inc. Is Announcing a Reduction in Authorized Common Shares and Its Continued Successful Business Plan Execution\n \n LAS VEGAS, NV--(Marketwired - Apr 9, 2014) - Southern ITS International, Inc. (PINKSHEETS: SITS) announced today that it has filed with the Secretary of State of Nevada for the reduction of its authorized common shares from 500,000,000 to 250,000,000, thereby reducing its authorized common shares by half. SITS has also reduced is total issued shares from 188,217,382 to 168,217,382, which is a reduction of 20 million common shares. SITS is still planning to start to buy back some of its float during the second and third quarters of this year.\n SITS' business strategy of diversification is now beginning to show some results with the signing of a joint venture agreement with the Pacific Consulting Services, LLC, \"PCS\" corporation, for the installation of enterprise class video surveillance systems for a fortune 500 corporation specializing in the retail industry with over $100 billion dollars in revenues. Our first integration contract for the required equipment and installations will start before the end of April 2014. At this time we can only provide limited information, but more details will be discloses before the end of Q2.\n Jason Bell, Vice-President of Southern ITS International, Inc., noted, \"This is very exciting since we worked hard to develop a unique solution to large retail stores which is reliable and cost effective. The joint venture with PCS allows us to provide such unique solution. For more details on this unique solution please visit our web site at http://www.southern-its.com/solutions-2/shield-intelligent-surveillance/. We will provide the investors with additional information as soon as the client's legal department allows us to release some information.\" \n Sylvain Desrosiers, Chairman and Interim CEO, noted, \"SITS is on course to realize its forecasted objectives. Additionally, we are pleased with the progress we are making with our ankle bracelets solutions service. We are planning two separate trials with 2 different states over the next 4 to 6 weeks. These trials will bring significant orders for SITS a...