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Recent News & Events
July 28, 2011
Global Water Technologies completes reverse split, gets upgraded status and temporary GWTRD stock symbol
INDIANAPOLIS, July 28, 2011 -- Global Water Technologies, Inc. (OTC Markets: GWTR, GWTRD) announces it has successfully completed its reverse split and received an upgraded status on the OTC Markets.
The company has been notified by the Financial Industry Regulatory Authority (FINRA) that its previously announced reverse split on a one for one hundred basis has been approved and takes effect at the beginning of trading on July 28. As a result of the split, the number of outstanding common shares has been reduced to 8,535,805.
Global Water Technologies has also filed its initial disclosure statements on the OTC Markets and its stock has been upgraded from a status of No Information to a status of Limited Information.
For the next 20 business days, the company's stock ticker symbol will include an extra D to note the split has taken place and will trade as GWTRD. After 20 business days, the stock will revert back to its original GWTR symbol.
We believe this new stock structure provides a better way to connect investors with opportunities in new water technologies, said CEO Erik Hromadka. There's a growing need for innovative new solutions to enhance treatment and improve water efficiency. We look forward to participating in the development of such solutions as part of a new regional water technology cluster being formed in Indiana, Ohio and Kentucky.
Global Water Technologies also plans to move forward with additional development of its proprietary system for the on-site production of sulfuric acid, which was issued U.S. Patent 7,867,470 earlier this year.
These steps provide a good base for the company, as we work to create value for both new and existing shareholders, Hromadka said.
Additional information is available on the company's web site at: www.gwtr.com.
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.