Prime Rate Investors, Inc. Votes to Reduce Authorized Common Shares
10 May 2005
Prime Rate Investors, Inc.'s (OTC.PK: PRRM) board of directors announced it decided unanimously to reduce the company's authorized shares to 80 billion shares of PRRM common stock. As such, the shares are subject to all SEC and regulatory statutes. The company's share structure will be updated on and can be viewed at www.pinksheets.com.
PRRM President Dan Burgess asserted that the non-dilutive adjustment "will realize increased value to shareholders."
Prime Rate Investors (OTC.PK: PRRM) is a multi-media holding company with interests in outdoor sports, e-tail, retail, print, web, television and film. The company's strategic relationships with multi-faceted, outdoor sports entities allow it to offer diverse advertising solutions to businesses seeking multi-media exposure. Its wholly owned subsidiaries include Stowe TV-10 and Adirondack TV-33, RSN affiliated cable broadcast companies and High Angle Media, Inc., a video production company that also manages two other RSN affiliates Sugarbush TV-12 and Smuggs TV-9. The Company's subsidiary, BCTV produces the outdoor adventure series "Backcountry TV." Prime Rate Investors also owns the majority interest of Stockli Ski USA, the exclusive U.S. distributor of Stockli skis, bikes and sportswear.
For more information, visit the websites www.prrm.info, www.stowetv10.com, www.neastmagazine.com, www.highanglemedia.com, and www.stockli.com.
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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Contact:
Prime Rate Investors, Inc.
Dan Burgess, 802-253-0199
http://www.prrm.us
info@stowetv10.com
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Source: Prime Rate Investors, Inc.
Source: Business Wire
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