LAS VEGAS--(BUSINESS WIRE)--Smart Holdings, Inc. (SMHS.PK), announced today that its Board of Directors has approved a 90/1 reverse split with 1 billion authorized shares. This does not diminish the value of shareholder equity, as the share reduction will be offset by a proportional increase in share price. The Company has not yet determined the record date and effective date.
The Company has continually been marketing its product line and has developed a warranty sales model that is showing excellent potential for long-term success. The Company’s goal is to build on its current resources and marketing experience which has been gained from running TV campaigns and incorporating multiple 3rd party sales centers with years of experience selling auto extended warranties.
The Company is continuing its TV marketing and sales efforts at the same time and is focusing on increasing extended warranty sales which have been the most profitable for the company to date. The warranty program has been improving with each campaign and is now ready for a roll out program on National TV. The company is expecting this to be a positive change that will benefit shareholders in the long run.
About Smart Holdings, Inc.
Headquartered in Henderson, NV, Smart Holdings, Inc., through its wholly owned subsidiary, Assurance Group Direct, is in the business of selling automotive extended service plans and prescription discount plans on a nationwide basis. Products now being sold include Prescription Medication Savings Plan and the Dental, Vision, Hearing and Chiropractic savings plans. The company is marketing directly to consumers through national television, Internet and other mass medias including social networking.
Forward Looking Statements
This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Smart Holdings, Inc. claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms "may," "believes," "projects," "expects," or "anticipates," and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to: our successful integration of diversified growth companies, impact of the company's expansion plan, and new business development success, future financial results, development and acquisition of new product lines and services, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties.