MORE NEWS LFWK Clarifies Information on Previous Press Release
NASHVILLE, TN -- (MARKET WIRE) -- 03/10/06 -- LoftWerks, Inc. (OTC: LFWK) today
announced
information to clarify yesterday's press release; particularly information
regarding shareholder distributions that were enumerated on the second half
of the previous announcement. That portion of the announcement should read
as follows:
Also, LFWK disclosed its share distribution; a request by Consultech aimed
at providing shareholders as complete a disclosure as possible prior to
finalizing the LFWK vehicle takeover. The shareholder ownership as
described is as follows:
-- 500,000,000 authorized
-- 100,000,000 control block held by Ammerman
-- 200,000,000 in Treasury earmarked for Consultech ownership during and
after takeover
-- 50,000,000 in certificate form, owned by enumerated insiders and NOT
TRADING.
-- An additional 78,000,000 owned in various certificate and electronic
form that is also held by LFWK insiders and accounted for as not currently
trading.
-- Leaving approximately 72,000,000 free-trading shares in the public
float (50M of which can be accounted for by LFWK management as issued to
non-insiders).
Additional Information: 60 Million of the free trading float can be
accounted for by LFWK management as issued to non-insiders. Insiders held
more than 22 Million shares of the free trading float, leaving the public
float as a negative number to date.
A spokesperson for Consultech Construction Management concurred with this
tabulation and stated that it was an accurate and reasonable reflection of
LFWK current share structure.
This contains forward-looking information within the meaning of The Private
Securities Litigation Act of 1995. Forward-looking statements maybe
identified through the use of words such as "expects," "will,"
"anticipates," "estimates," "believes," or statements indicating certain
actions: "may," "could," "should" or "might occur." Such forward-looking
statements involve certain risks and uncertainties. The actual results may
differ materially from such forward-looking statements. The company does
not undertake to publicly update or revise Its forward-looking statements
even if experience or future changes make it clear that any projected
results (expressed or implied) will not be realized.
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