LOS ANGELES, Feb. 10, 2015 (GLOBE NEWSWIRE) -- Everlert, Inc. (OTC:EVLID), an innovative entertainment and real estate company, announced a recapitalization in the form of a 1-for-6 reverse split, which became effective at the opening of trading February 10, 2015. The reverse split was completed to improve the corporate structure, increase eligibility for listing on a higher exchange, and broaden the Company's shareholder base by being recognized by a broader group of investors.
Everlert launched a new corporate website that can be found at www.everlertinc.com. The new website details the new operating segments of the Company: Real Estate, Entertainment and Financial. Management has a number of high profile projects in development in both its real estate and entertainment subsidiaries. Steps have been taken to reduce operating expenses, reduce debt and focus company resources on projects that are intended to accelerate the Company's growth and build shareholder value.
The reverse stock split became effective today. Every six (6) shares of common stock outstanding will automatically become one new share of common stock with no change in par value per share. The Company will temporarily trade on the OTC under the new symbol "EVLID" for a period of 20 days and will then revert back to "EVLI."
Everlert, Inc. is a provider of strategic management and structured financing services headquartered in Downtown Los Angeles and focused on the two most prominent business sectors in Southern California: Entertainment and Real Estate.
The Company provides entertainment related services and projects through its wholly owned subsidiary, Everlert Entertainment Inc. The Entertainment group's primary objectives are to provide management services, develop and acquire new entertainment content, and provide structural financing solutions to targeted entertainment projects.
Everlert is planning on creating real estate opportunities as a developer and operator of a senior assisted living facility in the Inland Empire region of Southern California through Everlert Properties, Inc., another wholly owned subsidiary of the Company.
Everlert's objective is to further develop the entertainment and real estate divisions through the support of Everlert Finance, Inc. This segment is focused on providing consumer financial services.
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will,'' "anticipates,'' "believes,'' "plans,'' "goal,'' "expects,'' "future,'' "intends,'' and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release.