MIAMISBURG, Ohio, Sept. 6, 2012 /PRNewswire/ -- Galtech Semiconductor Materials Corp. (Pink Sheets: GTSM), an Advanced Software Technology and Hardware Technology products company, announced today that the Board of Directors of the Company has approved a reverse merger and stock split with ANTs Software Inc., a Texas Corporation. The acquisition of ANTs Software Inc., a Texas Corporation, comprising numerous software intellectual properties and projects, positions Galtech in numerous competitive venues according to William Tunnell Board Member, SVP Mergers and Acquisitions. As part of this transaction, Dr. Frank N. Kautzmann, III was named a Director and elected Chairman, CEO and President of Galtech.
The reverse merger and stock split is expected to be concluded within the next few weeks following accounting consolidation and appropriate SEC filings.
This Galtech press release contains forward-looking statements within the meaning of the federal securities laws, including statements concerning financial projections, financing activities, product development activities and sales and licensing activities. Such forward-looking statements are not guarantees of future results or performance, are sometimes identified by words of condition such as "should," "could," "expects," "may," or "intends," and are subject to a number of risks and uncertainties, known and unknown, that could cause actual results to differ materially from those intended or anticipated. Such risks include, without limitation: problems securing the necessary financing to continue operations should revenues not be sufficient to offset expenses, problems encountered in commercializing the Galtech technology, potential of undetected infringing technology or non-infringing competitive technologies, difficulties experienced in product development, roadblocks experienced in sales and marketing activities, longer than expected sales processes, difficulties in recruiting knowledgeable and experienced personnel, possible problems in migrating or integrating licensed products and potential problems in protecting the Company's intellectual property. Further information concerning these and other risks is included in the Company's filings with the Securities and Exchange Commission, including the Company's most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2007, as supplemented by the Company's Quarterly Report on Form 10-Q for the period ended December 31, 2007. The Company undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances occurring after the date of this press release.
William Tunnell, SVP Galtech 623 825-2550