SAN JOSE, Calif., Sept. 10, 2010 (GLOBE NEWSWIRE) -- Zippi Networks, Inc. (Pink Sheets:ZIPZ), an Applications company focused on delivering entertainment, gaming, and social networking Apps for today's mobile lifestyle, today is responding to several inquiries coming in to the company surrounding the speculation of a reverse split in Zippi's outstanding common shares.
Zippi's response to current inquiries detail no definitive plans, dates, or actions taken by the company's Board of Directors or majority shareholders to begin any split in Zippi's shares, of any kind. At this time Zippi has displayed its ability to release applications that meet with current Apple iTunes guidelines, and continue its focus of releasing new applications in a timely manner.
Robert A. Rositano Jr., CEO of Zippi Networks, Inc., stated, "I have personally received many inquiries surrounding a posted date of September 18th, indicating this date will affect a 2000 for 1 reverse split in the company's issued and outstanding shares. This date must be an error, or a possible posting from last year, that somehow remains posted without a current year. If speculation is simply the culprit, I would like this release to serve as notification to our shareholders, that no reverse split is currently being contemplated by the company."
About Zippi Networks, Inc.:
Zippi is an Applications company; delivering consumers entertainment, gaming, and social networking Apps for today's Mobile lifestyle.
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those projected in the forward-looking statements as results of various factors including the ability of the company to successfully commercialize its new technologies and service offerings. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Zippi is a trademark of Zippi Networks, Inc. All other trademarks or registered trademarks are the property of their respective owners.
CONTACT: Zippi Networks, Inc. Media Contacts: Robert Rositano Jr. 1 408 884 2001 email@example.com Karen Ashley 1 408 884 2006 firstname.lastname@example.org email@example.com