One to watch next week...
This stock made a nice run a short time ago and if the info below is correct, it could signal that insiders think it is undervalued ... MAyber a little accumulation is in order ...
:)
4D Seismic (FDSM) to Begin Repurchase of Stock
HOUSTON, TX -- (MARKET WIRE) -- 09/01/06 -- 4D Seismic, Inc. (PINKSHEETS: FDSM) affirms it will start repurchasing its shares in the open market in the month of September. In a June meeting, the Board of Directors approved a plan to purchase of up to 12.5% of the outstanding free trading shares at a share price up to $3.00. Wachovia Securities is acting as the broker for the repurchasing program.
New machinery scheduled for purchase in the third quarter has been postponed due to excellent maintenance and greater than adequate equipment to complete current projects. This has allowed the excess budgeted cash to be held for acquisitions or redirected to the stock repurchase program.
The subcommittee that was impaneled to investigate forming a strategic alliance for identifying technologies opportunities and acquisitions has not completed its work and their report was tabled until the October Board meeting.
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 4D Seismic 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, changes in the petroleum market, 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. The Company assumes no obligation to update information concerning its expectations.
Contact: Donald J. Najvar Sr. Vice President Investor Relations 4D Seismic Phone: 281-980-2354 |
