HydroFlo, Inc. (HYRF.OB) announced that the company’s board of directors, in conjugation with shareholders, have approved a corporate restructuring plan. Some of the key decisions that were adopted by the Board are as follows:
• There will not be a reverse split of HydroFlo’s common stock. Because there is significant share accumulation from certain brokerage firms, the board decided to reject a reverse split of their common stock.
• The Company will immediately change their name to SolarBrook Water and Power Corporation. HydroFlo feels that this new name reflects the growing demand for water and solar power technology.
• Hydroflow will build a new website to help build the company’s Internet Presence and corporate image. This website will be located at North http://www.solarbrook.com and is expected to launch in the first quarter of 2008.
• The Board has created a “Solar Integration Committee”. Members of this Committee will work with HydroFlo managers and engineers to improve existing solar technology.
George Moore, HydroFlow’s CEO, stated, “What we have decided to do is develop and execute a strategy based on a purpose. Our purpose is two-fold: one, to always take corporate action to maximize and add shareholder value; and two, to develop systems that provide more water to more people and businesses using clean power in the most efficient way possible. Given our corporate purpose, I have developed a blue print to turn our corporate purpose into a business reality. This will take time and considerable, diverse resources. However, I am confident that the resources we require are available and accessible, and the actions we are taking will get us to where we want to be.”
Mr. Moore added, “Additionally, although I recognize and appreciate that we have a very active and interested shareholder base, I also know that it is going to take our very best efforts and a lot of energy to successfully execute this program for those same shareholders. With this in mind, I needed to hire a firm that understood our vision and had the skills to effectively communicate our corporate goals to the marketplace as well as the many loyal shareholders that have a stake in our success.”
He continued, “I have chosen Gemini Financial Communications in California to represent the Company as its I.R. representatives going forward. Andrew Beyer of Gemini Financial Communications will be the point person for HydroFlo shareholders and will field shareholder calls, distribute Company materials, arrange for regular conference calls along with other activities, all in an effort to actively communicate with people that either have or who are considering having a vested interest in our success. Over the coming months and well into 2008, we will have a lot to say to the market and I believe that Gemini Financial Communications is the right firm to help us at this time.”
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