MOORESVILLE, N.C., Dec. 28, 2009 (GLOBE NEWSWIRE) -- At a meeting of the Company's Board of Directors held on December 21, 2009, the directors of EV Innovations, Inc. (OTCBB:EVII) approved (1) a 1:2 reverse split of our Common Stock and (2) change of the Company's name from EV Innovations, Inc. to Li-ion Motors Corp., both actions to be effective early in 2010 when processed and made effective for trading purposes in the OTC Bulletin Board Market by the Financial Industry Regulatory Authority. The reverse split approved by the Board will reduce our authorized number of shares of common stock from 50,000,000 shares to 25,000,000 shares.
FORWARD-LOOKING STATEMENT:
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ.