SALT LAKE CITY, Oct. 26, 2011 (GLOBE NEWSWIRE) -- Infrastructure Developments Corp., (OTCBB:IDVC) today announced that its chief executive officer, Thomas R. Morgan, has acquired 3,666,000 shares of the company's common stock at three cents per share. The transaction increases Mr. Morgan's stock position from less than one percent to nearly three percent of outstanding common shares.
"I am comfortable investing in Infrastructure's stock at a premium to the current trading price," stated Mr. Morgan. "Infrastructure continues to develop its operations and I remain confident that the recent downturn in its stock price does not not properly reflect the value of what we are doing on a day to day basis. Infrastructure will continue to work diligently to increase the value to all of its investors' shareholdings."
About Infrastructure Developments:
Infrastructure is an engineering and construction services company that services an underserved niche in the global project management spectrum, targeting specialized projects and subcontracts that are too small to attract giant multinational firms, but which still require world class engineering expertise. Infrastructure is also expanding its operations domestically, including vehicle conversion and refueling stations for compressed natural gas vehicles.
Forward-Looking Statements:
A number of statements contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties including our ability to procure design and management projects, competitive market conditions, and our prospects for securing additional sources of financing as required. The actual results that Infrastructure may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Infrastructure encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-Q and Form 10-K. Infrastructure's public filings may be viewed at www.sec.gov.