*** PTSH(D) NEWS OUT!!! ***PTS, Inc. (PTSHD) Pending Mergers And General Corporate Update
TORONTO, ONTARIO--(Marketwire - April 14, 2011) - PTS, Inc. (PINK SHEETS:PTSHD) (www.ptspi.com) is providing this update to its shareholders and followers regarding previously announced pending mergers and various other business matters.
Following PTS, Inc. (PTSH) following a recent stock reversal the company has been searching for a suitable operating candidate for several months. The company is pleased to provide the following update to its shareholders and followers.
PTSH recently announced that it's in the final stages of finalizing a merger with a California based health care company. This transaction is proceeding smoothly and should and could be finalized at any time This is a solid well operated merger candidate company and by all accounts a great candidate for PTSH.
During the due diligence stage PTS, Inc. has, in the meantime, received other merger proposals from other candidates that may offer PTSH and its followers better options in the long term. Management of PTSH is mindful that it has the fiduciary duty to its shareholders to explore each and every opportunity before making its final decision. In abundance of caution, PTSH is taking these extra cautionary steps and believes that the extra time that this merger is taking to consummate will be well worth the wait.
For example, one of the candidates that PTS, Inc. was strongly considering is a New Delhi, India-based pill capsule manufacturing company. PTSH management and its agents spent a considerable amount of time researching and evaluating this merger candidate and, in the final stages before documents were signed, the company engaged the services of OTCVerify for the final review. OTCVerify discovered certain events or overhang on this Indian company, which could have been detrimental to PTS Inc., and its shareholders in the future. PTSH has since terminated the merger discussions with the Indian company and has now resumed looking at other suitable candidates.
PTSH and its ad visors are mindful that many PTSH shareholders entry point is much greater than PTSH current share price, and to that end PTSH is seeking a solid and a steady candidate with a potential of providing PTSH with hyper growth opportunity. PTSH is exploring this in developing global markets such as South America and Eastern Europe.
In other company news, interim secretary Marc Pintar has left his position following the completion of his contract with PTSH and has been replaced by Julie Provost. She has a good grasp of the business world and experience and is assisting PTSH in its task on a very cautionary tone.
PTSH, shareholders can expect additional information as these events unfold on a timely and steady basis.