Jun 23 2010
Structural Enhancement Technologies Corp. f/k/a Extreme Mobile Coatings Worldwide Corp. (OTC Bulletin Board: EMWW) announces that they have completed the process to amend the name of the Corporation to Structural Enhancement Technologies Corp. and complete a reverse stock split at a ratio of ONE HUNDRED (100) to One (1). The changes became effective June 18, 2010. The shares will trade under the symbol "EMWWD" for twenty days and then revert to the symbol "EMWW" thereafter.
The Holding Company's name was changed to indicate our growing business plan of increasing our other areas of operations and coatings. Extreme Mobile Coatings, Inc., our wholly owned subsidiary, will continue to operate under its current name.
The Company has been in discussions with an investment banking firm about conducting a raise of capital, via a PIPE, and in anticipation of this raise, it was determined that a re-capitalization and change of name was necessary to attract the interest of potential investors. The Company expects to sign the Investment Banking Agreement within the next week to ten days.
Charlie Woodward, Extreme Mobile Coatings President and CEO states, "We hope that the re-capitalization of our shares of common stock will position us to allow a raise of private capital that will enable our projected expansion of operations. The change of name will better show our varied lines of coatings and better explain our business model."