A headline just came across the wires from KMAG a few minutes ago. It read "KMAG Updates Shareholders on False Statements" I will paste the content of it below. I pulled up a chart of KMAG and recent news and figured the company was admitting to lying about the supposed share buyback they were embarking on since May 3rd. I opened the release and realized I was wrong.
I just find it odd how a company whose stock is down 60% since telling the world they were buying back shares of their stock would come out and say someone else is issuing false statements. It makes me think back to when I was a kid. One kid would call the other a liar and he would yell back "it takes one to know one".
It's been a great run for KMAG from the lows. Congratulations. And those of you waiting for a share buyback that supposedly started on May 3rd? Don't hold your breathe.
TORONTO, ONTARIO, May 03, 2012 (MARKETWIRE via COMTEX) -- KMA Global Solutions International, Inc. (PINKSHEETS: KMAG) has had a strong 2012 beginning. It will be a fast paced growth year. Management believes it is important to reinvest into that growth and has begun its buyback program.
CEO Jeffrey Reid states, "KMAG has hit the ground running this year and now our filings are up to date and the new executive has been arranged I am preparing for a trip to Asia to check on some development projects and oversee some of our latest production runs."
About KMA Global Solutions International, Inc.
At KMA, our Business Mission is to constantly reinforce our industry leadership as a preferred competitive supplier in the timely delivery of superior, cost effective, source tagging products - all the time, every time.
For more information about KMA Global Solutions International, visit: http://www.kmaglobalsolutions.com.
Statements included in this press release which are not historical in nature, are intended to be, and are hereby identified as "Forward Looking Statements" for purposes of safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. Forward Looking Statements may be identified by words including "anticipate", "await", "envision", "foresee", "aim at", "believe", "intends", "estimates" including without limitation, those relating to the company's future business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the Forward Looking Statements. Readers are directed to the company's filings with the U.S. Securities and Exchange Commission for additional information and a presentation of the risks and uncertainties that may affect the company's business and results of operations.
Contacts: KMA Global Solutions International Inc. Investor Relations firstname.lastname@example.org www.kmaglobalsolutions.com