Galtech Announces Reverse Merger Of Advanced Technology Company
MIAMISBURG, Ohio, Sept. 6, 2012 /PRNewswire via COMTEX/ -- Galtech Semiconductor
Materials Corp. (GTSM), an Advanced Software Technology and Hardware Technology
products company, announced today that the Board of Directors of the Company has
approved a reverse merger and stock split with ANTs Software Inc., a Texas
Corporation. The acquisition of ANTs Software Inc., a Texas Corporation,
comprising numerous software intellectual properties and projects, positions
Galtech in numerous competitive venues according to William Tunnell Board Member,
SVP Mergers and Acquisitions. As part of this transaction, Dr. Frank N.
Kautzmann, III was named a Director and elected Chairman, CEO and President of
Galtech.
The reverse merger and stock split is expected to be concluded within the next
few weeks following accounting consolidation and appropriate SEC filings.
Forward-Looking Statements This Galtech press release contains forward-looking
statements within the meaning of the federal securities laws, including
statements concerning financial projections, financing activities, product
development activities and sales and licensing activities. Such forward-looking
statements are not guarantees of future results or performance, are sometimes
identified by words of condition such as "should," "could," "expects," "may," or
"intends," and are subject to a number of risks and uncertainties, known and
unknown, that could cause actual results to differ materially from those intended
or anticipated. Such risks include, without limitation: problems securing the
necessary financing to continue operations should revenues not be sufficient to
offset expenses, problems encountered in commercializing the Galtech technology,
potential of undetected infringing technology or non-infringing competitive
technologies, difficulties experienced in product development, roadblocks
experienced in sales and marketing activities, longer than expected sales
processes, difficulties in recruiting knowledgeable and experienced personnel,
possible problems in migrating or integrating licensed products and potential
problems in protecting the Company's intellectual property. Further information
concerning these and other risks is included in the Company's filings with the
Securities and Exchange Commission, including the Company's most recent Annual
Report on Form 10-K for the fiscal year ended December 31, 2007, as supplemented
by the Company's Quarterly Report on Form 10-Q for the period ended December 31,
2007. The Company undertakes no obligation to update or revise such
forward-looking statements to reflect events or circumstances occurring after the
date of this press release.
CONTACT: William Tunnell, SVP Galtech 623 825-2550
SOURCE Galtech Semiconductor Materials Corp. |
