MASON, Ohio, June 29, 2012 /PRNewswire/ -- ANTs Software, Inc. (Pink Sheets: ANTS; www.ants.com), an Advanced Software Technology product company, announced today that the Board of Directors of the Company has approved a new share buyback program through open market trading. As the first step of the buyback program, the Board authorized the Company to buy back up to 40 million of its common shares in the open market in 2012. ANTs Software, Inc. has announced this large first step of the buyback plan to increase the value to the shareholders and to tighten up ANTs free trading float as all shares repurchased under the program will be held internally by ANTs.
Dr. Frank N. Kautzmann, III, ANTs Chairman and CEO stated: "We are most excited to confirm our commitment to increasing shareholder value beginning at the foundation: our share structure. ANTs values our loyal shareholders, and this is just the beginning of a new chapter in our transparent communication with them, appreciation of them and their patience during some very important product introductions and licensing executions. The share buyback is also the first of several material steps as ANTs prepares itself for up-listing to the OTCQB and beyond. 2012 shall prove to be a most auspicious year."
ANTs software, inc. develops ANTs Compatibility Server, an innovative middleware solution that accelerates database consolidation between database vendors enabling application portability. The ACS, a middleware technology that would allow customers to move applications from one database to another database, enables enterprises to consolidate their applications onto fewer databases. It also develops, markets, and supports ANTs Data Server. The company was formerly known as ANTs software.com and changed its name to ANTs software, inc. in July 2000. The mission of ANTs Software is to help customers drive down IT operating costs by consolidating hardware and software infrastructure, and eliminating cost inefficiencies.
In addition to ACS, ANTs offers a complete portfolio of services ranging from architecting or managing IT infrastructure, to full application performance tuning and administrative services.
Forward Looking Statements
This press release contains certain forward-looking statements as that phrase is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those projected. Such risks include but are not limited to the following: there can be no assurance that ANTs software inc. (the "Company") will produce the expected results; that it will produce a commercially viable product; that the Company will secure the necessary current and additional financing, intellectual property and staff to support current and future operations. Further risks are detailed in the Company's filings with the Securities and Exchange Commission, including the Company's most recent form 10-K for the fiscal year ended December 31, 2010. The Company undertakes no obligation to revise or publicly release the results of any revision to the forward-looking statements.
Dr. Frank N. Kautzmann, III
SOURCE ANTs Software, Inc.