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Implementation of Patron's Reverse Stock Split Delayed Several Days to Enable NASD to Complete Its Process to Make the Reverse Split Effective
Implementation of Patron's Reverse Stock Split Delayed Several Days to Enable NASD to Complete Its Process to Make the Reverse S
By: PR Newswire
Jul. 31, 2006 10:38 PM
BOULDER, Colo., July 31 /PRNewswire-FirstCall/ -- Patron Systems, Inc. (BULLETIN BOARD: PTRS) , a leading provider of enterprise software to create, manage and share electronic forms and messages, was informed today by the NASD (National Association of Securities Dealers, Inc.) that Patron's reverse stock split implementation will be delayed for several days to enable the NASD to complete its process to make the reverse split effective. Patron previously expected the reverse split to become effective August 1, 2006. Patron has completed the filing of the amendment to its Second Amended and Restated Certificate of Incorporation which provides for a 1-for-30 reverse stock split and the amendment has been declared effective by the Delaware Secretary of State. About Patron Systems Founded in 2002, Patron Systems was established to develop products and technologies that close gaps in the management of an organization's messaging environment. Patron's suite of Active Message Management(TM) products addresses eform creation, capture and sharing, and manages data in an industry standard format (GJXDM) as well as provides solutions for email policy management, email retention policies, archiving and eDiscovery, proactive email supervision, and protection of messages and their attachments in motion and at rest. Patron serves customers in highly regulated industries such as financial services, legal, public safety and law enforcement, healthcare, and pharmaceuticals. Further information is available at http://www.patronsystems.com/ . Forward-Looking Statements This release may contain statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current estimates and projections about Patron Systems' business, which are derived in part on assumptions of its management, and are not guarantees of future performance, as such performance is difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Such factors include, but are not limited to, the Company's ability to execute effectively its business plan and acquisition strategy, changes in the market for electronic message management solutions, changes in market activity, the development of new products and services, the enhancement of existing products and services, competitive pressures (including price competition), system failures, economic and political conditions, changes in consumer behavior and the introduction of competing products having technological and/or other advantages. These and other risks are described in the Company's filings with the Securities and Exchange Commission, which should be read in conjunction herewith for a further discussion of important factors that could cause actual results to differ materially from those in the forward-looking statements. The Company assumes no obligation to update information concerning its expectations. Patron Systems, and FormStream, are registered trademarks of Patron Systems Incorporated. All other company and product names belong to their respective owners. Patron Systems, Inc.
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