updated 2/2/2011 9:16:37 AM ET 2011-02-02T14:16:37

PATERSON, N.J., Feb. 2, 2011 (GLOBE NEWSWIRE) -- Kentucky Energy, Inc. (Pink Sheets:QMIND), a Kentucky-based operator of energy and mineral related properties, today announced that its board of directors has approved a 1-for-25 reverse stock split of its currently outstanding shares of common stock. The pre-split total shares of common stock outstanding was 1,849,248,210 and post-split total shares of common stock outstanding will be 73,969,930 (subject to adjustment for settlement of fractional shares, which will be rounded up to the nearest whole share).

On January 31, 2011, we received notice from FINRA/OTC Corporate Actions that the reverse stock split take effect at the open of business on February 2, 2011. Our new symbol on this date will be "QMIND.PK." The "D" on our symbol will be removed 20 business days from February 2, 2011.

About Kentucky Energy

Kentucky Energy, Inc. acquires and operates energy and mineral related properties in the southeastern part of the United States. Our efforts are focused on properties that produce quality compliance blend coal. For more information, please visit our website at www.kentuckyenergyinc.com.

Forward-Looking Statements

This document contains discussion of items that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include, but are not limited to, lack of revenue producing operations, lack of working capital, debt obligations, judgments and lien claims against the Company and certain of its assets, difficulties in refinancing short term debt, difficulties identifying and acquiring complementary businesses, fluctuations in coal, oil & gas, and other energy prices, general economic conditions in markets in which the Company does business, extensive environmental and workplace regulation by federal and state agencies, other general risks related to its common stock, and other uncertainties and business issues that are detailed in its filings with the Securities and Exchange Commission.

Cautionary Note to U.S. Investors –The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. The Company may use certain terms in this press release, or on its website, such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in the Company's Form 10-K which may be secured from the Company, or from the SEC's website at http://www.sec.gov/edgar.shtml.

CONTACT:  Kentucky Energy, Inc.
          Eugene Chiaramonte, Jr.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com