PHOENIX, ARIZONA--(Marketwire - Aug. 20, 2012) - GEAR International (GEAR) (GEAR) stock fell sharply last week amidst rumors that GEAR had cut ties with Western Sierra Mining and would fail to report second-quarter revenue. Apart from the revenue forecast, investors were concerned with the stock's reacting to the news.
Dale Geck, GEAR chief executive officer, has scheduled a conference call on Tuesday August 21st at 4pm EST to explain Gear's silence regarding internal strategy and implementation plans after learning that short sellers were attempting to acquire large positions in the stock. Over the last several months, GEAR has hired proven executives with credible experience to address its short-term challenges with regard to marketing mining operations - efforts too recent to have had significant impact on second-quarter performance.
IN 2011, GEAR International emerged as a leader in the business of identifying small-cap sustainable resource development properties. While GEAR has not lived up to early investors' highest estimates of early 2012 revenue, Gear has steadily positioned itself to capitalize from its current mining interests in the immediate future. Gear has shifted from a maverick, opportunistic approach at boom or bust mines to a deliberate, measured approach for sustainable extraction that will create a solid base to the company valuation. "Gear will no longer be unduly influenced by short term speculators and their promotional predators. We have developed a sound foundation and one that all investors could respect."
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 Gear international Inc.k 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.