LAS VEGAS, NV-(April 9, 2014) – Southern ITS International, Inc. (PINKSHEETS SITS), announced today that it has filed with the Secretary of State of Nevada for the reduction of its authorized common shares from 500,000,000 to 250,000,000, thereby reducing its authorized common shares by half. SITS has also reduced its total issued shares from 188,217,382 to 168,217,382, which is a reduction of 20 million common shares. SITS is still planning to start to buy back some of its float during the second and third quarters of this year.
SITS’ business strategy of diversification is now beginning to show some results with the signing of a joint venture agreement with the Pacific Consulting Services, LLC “PCS” corporation, for the installation of enterprise class video surveillance systems for a fortune 500 corporation specializing in the retail industry with over $100 billion dollars in revenues. Our first integration contract for the required equipment and installations will start before the end of April 2014. At this time we can only provide limited information, but more details will be disclosed before the end of Q2.
Jason Bell, Vice-President of Southern ITS International, Inc., noted, “This is very exciting since we worked hard to develop a unique solution to large retail stores which is reliable and cost effective. The joint venture with PCS allows us to provide such unique solution. For more details on this unique solution, please visit our web site. We will provide the investors with additional information as soon as the client’s legal department allows us to release some information”.
Sylvain Desrosiers, Chairman and Interim CEO noted “SITS is on course to realize its forecasted objectives. Additionally, we are pleased with the progress we are making with our ankle bracelets solutions service. We are planning two separate trials with 2 different states over the next 4 to 6 weeks. These trials will bring significant orders for SITS as a complete solution provider for monitoring offenders”.
About Southern ITS International, Inc.
Southern ITS International, Inc. is committed to the mission of providing total systems integration projects by maintaining cost effectiveness while providing high end voice, data, surveillance and audio/visual systems. We are represented throughout the world by leading individuals within the digital surveillance and IT integration industry. We are providing a digital video recording solution and integrating our technological solutions with other existing systems, which results in a significant capital savings for our clients. The Company is positioned to be a leading force in this business sector.
Precautionary and Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” You are cautioned that such statements are subject to a multitude or risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company’s disclosures or filings with OTC Markets, Inc. You are further cautioned that stocks of smaller companies like Southern ITS International, Inc. are inherently volatile and risky and that no investor should buy this stock unless they can afford the loss of their entire investment.