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Press Release Source: Roanoke Technology Corp.
Roanoke Technology Corp. Irrevocably Rules Out Reverse Split of Shares Speculation
Wednesday May 26, 10:34 am ET
ROCKY MOUNT, N.C.--(BUSINESS WIRE)--May 26, 2004--Roanoke Technology Corp. (OTCBB:RNKE - News) would like to clarify any confusion that has developed as a result of our earlier press release. We would like to take this opportunity to assure shareholders that Roanoke Technology Corporation has no plans of initiating a reverse split and was in no way eluding to such in the earlier press release. The only shares that will be affected by the creation of these 100,000,000 Class A common shares are shares that currently belong to Roanoke Technology Corporation C.E.O. Mr. David Smith. This new class of stock is being distributed to replace shares currently owned by Mr. David Smith with the objective of reducing the dilution to the current shareholders while enabling Mr. Smith to retain the voting majority in the company.
Note: "Safe Harbor" Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
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Contact:
Sussex Avenue Partners LLC Associates, Carlsbad, Calif.
John Hicks, 760-918-5592
Press Release Source: Roanoke Technology Corp.
Roanoke Technology Corp. Irrevocably Rules Out Reverse Split of Shares Speculation
Wednesday May 26, 10:34 am ET
ROCKY MOUNT, N.C.--(BUSINESS WIRE)--May 26, 2004--Roanoke Technology Corp. (OTCBB:RNKE - News) would like to clarify any confusion that has developed as a result of our earlier press release. We would like to take this opportunity to assure shareholders that Roanoke Technology Corporation has no plans of initiating a reverse split and was in no way eluding to such in the earlier press release. The only shares that will be affected by the creation of these 100,000,000 Class A common shares are shares that currently belong to Roanoke Technology Corporation C.E.O. Mr. David Smith. This new class of stock is being distributed to replace shares currently owned by Mr. David Smith with the objective of reducing the dilution to the current shareholders while enabling Mr. Smith to retain the voting majority in the company.
Note: "Safe Harbor" Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
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Contact:
Sussex Avenue Partners LLC Associates, Carlsbad, Calif.
John Hicks, 760-918-5592