BOCA RATON, FL -- (Marketwired) -- 10/01/14 -- Cleartronic, Inc. (OTCQB: CLRI) (the "Company") today announces that it has completed a multi-faceted plan to improve the Company's share capitalization as well as to expand the membership of its board of directors.
Following discussions with its majority shareholders and potential investors, Cleartronic management developed a capital structure plan that it believes will provide long-term benefits to the Company and its shareholders. These discussions also played a key role in establishing a plan to expand the board of directors.
"We are positioned to implement this strategy to take advantage of our share capital and other corporate tools that we think will strengthen our company, attract possible acquisition candidates and investors, and potentially provide long-term benefits for our shareholders," stated Cleartronic CEO Larry Reid. "We had considered expanding our board of directors for some time and the recent licensing agreement for the ReadyOp™ software made us accelerate the process. We have begun discussing our plans with prospective board members and expect to announce new directors in the next few weeks."
About Cleartronic, Inc.
Cleartronic, Inc. is a technology holding company that creates and acquires operating subsidiaries to develop, manufacture and sell products, services and integrated systems to government agencies and business enterprises. For more information please visit: www.cleartronic.com
Safe Harbor Statement
This press release may include predictions, estimates, opinions or statements that might be considered "forward-looking" under the provisions of the Private Securities Litigation Reform Act of 1995. Such statements generally can be identified by phrases such as Cleartronic or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates," or other, similar words or phrases. Similarly, statements herein that describe Cleartronic's business strategy, outlook, objectives, plans, intentions, or goals are also forward-looking statements.
All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the expectations of Cleartronic or its management. Investors should not place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this document.
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Source: Cleartronic, Inc.