ClickStream Announces Stock Repurchase Program
ClickStream Corp (OTC PINK:CLIS) announced a stock repurchase program authorizing up to $1,000,000 to buy back its common shares. The initiative aims to boost shareholder value while ensuring adequate cash resources for ongoing operations and development. CEO Frank Magliochetti highlighted the program’s goal of improving investment value and backing the growth of their WinQuik™ app. Purchases will be made at management’s discretion, subject to market conditions and other financial factors, with no obligation for specific share amounts.
- Authorization of a $1,000,000 stock repurchase program expected to enhance shareholder value.
- Management's commitment to using a strong balance sheet to reduce outstanding shares.
- Potential positive impact on earnings per share (EPS) through share reduction.
- Share repurchase program is contingent on market conditions, which may limit execution.
- No guaranteed timeline or specific share amounts to be repurchased, leading to uncertainty.
LOS ANGELES, CA / ACCESSWIRE / October 5, 2020 / ClickStream Corp (OTC PINK:CLIS) announced today that its board of directors has authorized the repurchase of up to
Frank Magliochetti, CEO of ClickStream, states, "By using our strong balance sheet to reduce the number of outstanding common shares, we can increase stockholder value, while maintaining sufficient cash resources to fund our operations and development. The share repurchase authorization reflects our ongoing commitment to improving the investment value of the company's stock while at the same time growing our business by further developing and marketing WinQuik™ app."
The repurchase program permits shares to be repurchased in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission.
Repurchases will be made at management's discretion at prices management considers to be attractive and in the best interests of both the company and its shareholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the company's financial performance. Open market purchases will be conducted in accordance with the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements.
The repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The repurchase program does not obligate the company to purchase any particular number of shares.
ABOUT CLICKSTREAM CORPORATION
ClickStream is a technology company focused on developing apps and digital platforms that disrupt conventional industries. The company's initial offering WinQuik™, is a free-to-play synchronized mobile app and digital gaming platform. The platform is designed to enable WinQuik™ users to have fun, interact and compete in order to win real money and prizes. WinQuik™ is currently in production with shows featuring celebrity hosts such as: Actor Pooch Hall, NFL quarterback and former NASA intern Joshua Dobbs, New York City restaurateur and celebrity chef Jordan Andino, NFL Network's Brian Baldinger, U.S. Army Green Beret and survival expert Mykel Hawke, former ESPN host Howie "The Sultan of Sports Trivia" Schwab and Emmy-Award winning journalist, documentary filmmaker and ClickStream's Vice President of Original Programming Amber Theoharis. Show subject matter includes sports, survival, Hollywood, travel, the Bible, space, food and much more. Game types are set up dynamically with daily, live games and non-live games available to play multiple times daily. As a free-mium platform, ClickStream monetizes the platform with corporate sponsors and advertisers. For more information please visit: Web: www.clickstream.technology or www.winquik.com | Twitter: www.twitter.com/winquikapp or www.twitter.com/ClickstreamC | Instagram: www.instagram.com/winquiktrivia/
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
FOR MORE INFORMATION, PLEASE CONTACT:
Adam Handelsman
SpecOps Communications
adam@specopscomm.com
O: (512) 363-0594
C: (646) 413-9401
SOURCE: ClickStream Corporation
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