PHOENIX, ARIZONA -- (Marketwire) -- 05/21/12 -- GEAR International, Inc. (GEAR) announces that over 30,000,000 shares of GEAR common stock traded today amidst intense short selling by market makers.
The surge in Intraday trading volume over the last 2 trading days is in alignment with GEAR management's objectives.
GEAR management is demonstrating support for shareholders by cancelling an additional 15,000,000 shares of class A common stock. Last week, GEAR reduced common authorized shares to 600,000,000 from over 2.9 billion while reducing preferred B authorized shares to 600,000 shares and eradicating all class C shares. Today's cancellation brought the total issued and outstanding shares down to 133 million shares.
GEAR President Dale Geck affirms: "GEAR management is thrilled to receive support from new shareholders. Today, investment banks and private equity groups in New York have expressed strong interest in GEAR as a potential leader in resource development. As demonstrated by today's stock cancellation, management is committed to achieving a share price that is consistent with the company's fundamental activities and profile."
About GEAR International, Inc.:
GEAR International, Inc. was originally incorporated in 1996. The company's strategically focused on gold and silver mining, providing financing for gold and silver mining projects, and precious metals processing and refining.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Mission Holdings LLC.,., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
GEAR International, Inc.
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