UDHC - CEO and Company buying shares on the open market

Two recent press releases by UDHC announce a significant buy back of outstanding stock in the open market.

6 million shares are to be bought back which is an impressive sum considering the average volume for the stock. The last few days seem to indicate interest has returned to the stock, but the buying does not appear to be taking place yet.

If the company and the CEO are buying back 6 million shares this stock could soar several hundred percent from current trading levels.

This could be a stock to watch going forward. The recent press releases are pasted below.


Ulysses Diversified Holdings Corporation Will Buy Back Immediately on the Open Market 3 Million of Its Common Shares JACKSONVILLE, NY, Sep 10, 2008 (MARKET WIRE via COMTEX) -- Ulysses Diversified Holdings Corporation (PINKSHEETS: UDHC) said Wednesday that it will start buying back 3 million of its common shares on the open market immediately.
This announcement is separate from the company's CEO Mr. Young's announced acquisition of shares yesterday; his proclamation is a personal matter and does not reflect the company's actions. The company would however like to address the fact that any share's Mr. Young acquires on the open market is subject to a restrictive status as he is an officer of the company.
"The company is taking this action as an indication of its commitment to its shareholders; the company believes that its share price is non reflective of the company's true value, and as such the company has made the decision to acquire these shares and may in the future acquire the entire balance of its outstanding common shares, thus taking the company private," said James Ingram Company Spokesman.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Contact:
Ulysses Diversified Holdings Corp.
Investor Relations
Tel: 1-607-387-7353
Website: http://www.ulyssesholding.com/



Ulysses Diversified CEO Young to Buy 3M Shares on the Open Market JACKSONVILLE, NY, Sep 09, 2008 (MARKET WIRE via COMTEX) -- Ulysses Diversified Holdings Corporation (PINKSHEETS: UDHC) said Tuesday that President and Chief Executive Clayton Young will make an open market purchase of 3 million of his company's shares with personal funds.
"This announcement is being made void of any insider knowledge or considerations and prior to any roll out of new products or clients. It is a prudent investment for my family and myself at this time," said Clayton Young, President and CEO of Ulysses Diversified Holdings Corporation.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Contact:
Ulysses Diversified Holdings Corp.
Investor Relations
Tel: 1-607-387-7353
Website: http://www.ulyssesholding.com/