LOS ANGELES, Jan. 28 /PRNewswire/ -- Vertical Computer Systems, Inc. (OTC Bulletin Board: VCSY) announced today that its board of directors has approved a twenty-for-one forward stock split of the Company's common stock. The record day for the split will be February 7, 2000 with the date of distribution set for February 11, 2000. The Company's common stock will be quoted on a post-split basis as of February 14, 2000. The Company advises that shareholders do not need to take action to receive the additional shares. Existing certificates should not be destroyed nor returned to the Company and will continue to represent the number of shares indicated. New certificates will be issued for the balance of shares due. The twenty-for-one stock split will not change the shareholders existing proportionate ownership.
Richard Wade, President, commented, "As a growing Internet provider, we feel that it is important for us to broaden the marketability and liquidity of our stock to all our shareholders."
Vertical Computer Systems, Inc. is a multi-lingual portal provider, and e-commerce solutions company, based in the United States. The Company provides a full range of Internet services that include building e-commerce solutions nationally and internationally, distributing content via its multi- lingual portal network (http://www.TheChinaBridge.com); and Internet services (http://www.thepostmaster.net). Through its majority-owned subsidiary, Externet World, Inc., the Company provides online shopping services (http://www.ShoppingInternet.com) and proprietary online gaming software (http://www.ccpsoftware.com). Vertical Computer Systems is committed to building e-commerce communities on the Internet in the Americas, Europe, Asia and Pacific Rim.
Forward-looking statements in this release are made pursuant to the Safe Harbor provision of the Private Securities Litigation Act of 1995. These forward-looking statements are subject to certain risks and uncertainties and actual results could differ from those discussed. This material is information only, and is not an offer or solicitation.
SOURCE: Vertical Computer Systems, Inc.