DEERFIELD BEACH, FL — (Marketwire) — 09/01/11 — Alto Group Holdings, Inc. (OTCBB: ALTO) (“Alto” or the “Company”) announced that it intends to apply to the Financial Industry Regulatory Authority (“FINRA”) to consolidate the number of its outstanding shares of common stock.
Commenting on the announcement, Mark Klok, the Chairman and CEO of the Company, stated: “Notwithstanding the turbulence of financial markets, we believe that a consolidation of our outstanding shares may help decrease the volatility associated with the Company–s share price. In addition, we also want to be responsive to the needs of our shareholders and, therefore, today–s announcement is also a reflection of more stringent clearing procedures which now apply to low priced stocks and the Company–s effort to increase the acceptability of its shares by brokers and other depository institutions.”
The Company expects to make the submission for approval to FINRA within the coming weeks, although timing of such approval is inherently uncertain.
Alto is an innovative international mining and exploration company that trades on the over-the-counter bulletin board under the symbol “ALTO”. Additional information on the Company may be obtained from the Company–s website at .
This press release contains certain forward-looking statements regarding possible future circumstances. These forward-looking statements are based upon the Company–s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, any unanticipated delays in respect of regulatory approval of corporate actions described herein, and any risks and uncertainties with respect to the Company–s mineral and mining interests, as well as those contained in the Company–s quarterly, annual, and periodic filings with the Securities and Exchange Commission. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.
Alto Group Holdings, Inc.