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247MGI to Reduce Authorized Shares by 30%

  //business-finance.news-articles.net/content/201 .. 18/247mgi-to-reduce-authorized-shares-by-30.html
  Published in Business and Finance on Monday, July 18th 2011 at 5:00 GMT by Market Wire

FORT LAUDERDALE, Fla.--([ BUSINESS WIRE ])--247MGI, Inc. (Pink Sheets: TOFS) (a247MGIa) will file today Monday July 18, 2011 with the State of Florida to Amend its Articles of Incorporation to reduce the number of Authorized Common shares the Corporation has from 5 billion to 3.5 billion shares, the Par value shall remain the same.

The Amendment will be viewable from [ www.sunbiz.org ], the Corporation has also logged in to PinkSheets.com to make the adjustments to the Authorized shares.

The Company hopes to be able to begin posting more financial information by the end of the week on PinkSheets.com and believes a further reduction in the Authorized and Outstanding shares of the Company will happen again shortly.

The Company has no plans for any type of share restructuring for its Common stock.

The Company asks Shareholders to monitor PinkSheets.com for continued developments.

The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as abelieves,a aexpects,a apotential,a aplans,a asuggests,a amay,a ashould,a acould,a aintends,a or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.