SALT LAKE CITY, Nov. 4, 2005 (PRIMEZONE) -- Beneficial (Pink Sheets:BFHJ) is pleased to announce that it plans to implement a stock buy-back program. All purchases will be made at market prices on the pink sheets exchange operated by the NASDAQ Stock Market or through private transactions and will be paid for with general corporate funds from sales profits of its products.
Beneficial's President Harvey Carmichael said that he is dedicated to building share holder value -- but will spend no more than $350,000 (three hundred fifty thousand dollars) to repurchase up to 5% of the company's outstanding stock under a one-year program.
Corporate repurchase of stock from shareholders has been discussed and defined as follows:
Investors typically view a stock buyback as a positive signal. Companies often buy back their own shares because management believes the stock is undervalued. Cash flow may be increasing, and putting money into their own stock may be a better investment than other alternatives. And because there are fewer shares outstanding, earnings per share go up even if the actual dollar amount of earnings does not change. Ref. www.quicken.com/glossary
About Beneficial Holdings
Beneficial Holdings is an innovative nutraceutical company based in Salt Lake City, Utah that has developed several unique lines of dietary supplements marketed under the name of Beneficial Health Systems. Beneficial's current product lines can be viewed at www.WillpowerRX.com, www.EnjoyRX.com, and www.EnduranceRX.com. Beneficial is committed to being a market leader and innovator within the nutraceutical field.
This press release contains forward-looking statements, which are made pursuant to the Safe Harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve risks and uncertainties that could cause actual results to be materially different. Factors include, but are not limited to, available funding, market acceptance, competition, recruitment and retention of personnel, dependence on key personnel and certain risks associated with the projects in which the Company is engaged to complete and others. The forward-looking statements should be considered in light of these risks and uncertainties. The Company disavows any obligation to update or correct any of its forward-looking statements.
For more information about Beneficial Holdings (BFHJ), please contact: Or visit us online at: www.BFHJstock.com
(Note) These statements have not been evaluated by the FDA. This product is not intended to treat cure or prevent disease.