Hotel Outsource Management International, Inc. Announces a 100:1 Reverse Stock Split
NEW YORK--(BUSINESS WIRE)-- Hotel Outsource Management International, Inc. ("HOMI") (OTC: HOUMD), a multi-national service provider in the hospitality industry, supplying computerized minibars that are primarily intended for in-room refreshments, has announced that effective January 28, 2013, its common stock will be reverse split one hundred to one (100:1), with the result that there shall be one (1) post-split share of common stock for each one hundred (100) of pre-split shares. Prior to this reverse split, there were 199,950,602 shares of HOMI common stock outstanding. As a result of this split, there are now, 1,999,506 shares outstanding.
Mr. Daniel Cohen, HOMI's President, stated, "We believe that this reverse stock split will provide HOMI the flexibility to engage in future offerings and ultimately afford our shareholders greater liquidity and value on their investments."
HOMI is a multi-national service provider in the hospitality industry, supplying a range of services in relation to computerized minibars that are primarily intended for in-room refreshments. HOMI was incorporated under the laws of Delaware in 2000 and is listed on the Over-the-Counter "OTC" Exchange, under the symbol "HOUMD."
HOMI and its subsidiaries are engaged in the distribution, marketing and operation of computerized minibars in major branded hotel chains, operating approximately 10,500 computerized minibar systems at 43 hotels located in the United States, Europe and Israel, and in the development and manufacture of a new range of computerized minibar systems, designed to improve the performance of minibar departments, thereby improving the hotel's bottom line.
HOMI offers a number of solutions that are designed to meet the hotels' needs, ranging from consultation, supervision and rental services, to full outsource installation and operation arrangements.
HOMI's leading products are the HOMI® 330, HOMI® 226 and the External Dry-Section computerized trays.
For more information about HOMI, visit: http://www.my-homi.com/
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements relate to future events or to the company's future financial performance. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause the company's or the industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, the company does not intend to update any of the forward-looking statements to conform these statements to actual results. The terms, the "Company," "we," "us," "our" means Hotel Outsource Management International, Inc. and its subsidiaries, unless otherwise indicated.
KEYWORDS: United States North America New York Middle East Israel
The article Hotel Outsource Management International, Inc. Announces a 100:1 Reverse Stock Split originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.