GARRISON, N.Y., Sept. 30, 2004 (PRIMEZONE) -- Transportation Logistics Int'l, Inc. (OTCBB:TRPL) announced today that its Board of Directors has decided to withdraw its proposal regarding a reverse stock split.
The Company filed preliminary proxy materials with the Securities and Exchange Commission on September 24. The preliminary materials included a proposal that the shareholders authorize a reverse stock split. The Board has decided that a reverse stock split is not required at this time, and so will eliminate that proposal from the proxy materials. Amended preliminary proxy materials will be filed shortly.
For further information, contact Mike Margolies at 845-424-4100.
The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will provide to be correct. Factors that could cause results to differ include, but are not limited to successful performances of internal plans, the impact of competitors, and general economic risks and uncertainties.