Simulated Environment Concepts, the manufacturer and developer of medical, aesthetic, weight loss, wellness, and slimming equipment, this morning announced that it will be seeking to reduce its authorized shares by the end of this month.
Dr. Ella Frenkel, President, CEO and Co-Founder of Simulated Environment Concepts (SE Concepts) commented, “I am a vested shareholder just as many of our investors. Where there is market dilution, I hear about it from our shareholders. When there is a decrease in share value, it affects me personally as well, and where necessary action must be taken to override current perception, I will take the appropriate measures as circumstance permits and do so to the best of my ability. In this instance, we are responding to our shareholders and we are beginning to initiate a multiphase plan to reduce the current Authorized Share amount.”
Along with other initiatives, reducing the authorized shares was one of the tasks to be addressed during the last shareholder conference call. In the press release it was indicated that the intent is to bring the authorized share amount to the low 10 digits, which will have to be accomplished in phases. The reduction in authorized shares is another testament of Simulated Environment Concepts (SE Concepts) promises coming to fruition.
Allen Licht, Chief Operating Officer of SE Concepts, added, “As we are working through the data for the audit, we’ve been able to identify several reasonable methods of protecting company’s interest while also further securing the interest of fellow investors and shareholders. As we’re able to put those protections into place, we can continue reducing the authorized shares responsibly, one step at a time.”
It is anticipated that if the company is successful in securing a significant investment from current suitors, not only will the company further reduce authorized shares, but it will also take measures to greatly strengthen corporate structure and prepare itself to acquire other similar business and/or patents.
Dr. Frenkel concluded, “While we cannot always satisfy every request of each individual shareholder, we do listen, and we encourage our fellow shareholders to be in communication with us through email, Facebook, Twitter and of course our corporate blog. We have one goal and that is to build a strong and profitable company. We will do this by producing and selling globally successful products like the SpaCapsule and consciously making decisions that we hope will continue to positively impact and strengthen shareholder value.”
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