Cleveland, OH – February 6, 2012
SearchPath HCS Inc. (Pink Sheets: SRCP), today announced, as part of its continuing effort to refine its model, a previously approved 1-for- 1,000 reverse split of its common stock (the “Reverse Stock Split”) has been implemented. Trading of the reverse stock split-adjusted shares of SearchPath common stock will commence at the opening of OTC Pink Sheets trading on Tuesday, February 7, 2012. SearchPath shares will continue to trade on the OTC Pink Sheets under the symbol SRCP, with the letter “D” added to the end of the trading symbol for 20 trading days, indicating a reverse stock split has been effected. The new CUSIP number for the Company’s common stock following the Reverse Stock Split is 812231 207.
The Reverse Stock Split will become effective as of the opening of trading on February 7, 2012, at which time every one thousand (1,000) shares of the Company’s issued and outstanding common stock will be automatically combined into one (1) issued and outstanding share of the Company’s common stock, without any change in the par value per share. Shareholders holding less than one whole share after the reverse stock split will have their shares rounded up.
About Search Path HCS, Inc.
SearchPath HCS, Inc. is a rapidly growing human capital solutions firm and the parent company of SearchPath International, Inc. www.searchpath.com. SearchPath International is a U.S.-based talent acquisition professional services firm, with 58 franchises nationwide.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company and SPI set forth herein and those preceded by or that include the words “believes,” “expects,” “given,” “targets,” “intends,” “anticipates,” “plans,” “projects,” “forecasts” or similar expressions, are “forward-looking statements”. Although the Company’s management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated. The Company assumes no obligation to update any of the information contained or referenced in this press release.
Source: SearchPath HCS, Inc.