EXHIBIT 99.1
NEWS RELEASE for June 9, 2005 at 7:30 am EDT
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CONTACTS FOR INCENTRA SOLUTIONS:
Allen & Caron Inc. Incentra Solutions
Jill Bertotti (investors) Thomas P. Sweeney III
jill@allencaron.com Chairman and CEO
Len Hall (financial media) (303) 449-8279
len@allencaron.com
(949) 474-4300
INCENTRA SOLUTIONS COMPLETES 1-FOR-10 REVERSE STOCK SPLIT
NEW STOCK SYMBOL (ICNS) EFFECTIVE JUNE 9, 2005
BOULDER, CO, JUNE 9, 2005 - Incentra Solutions, Inc. (OTCBB: ICNS) today
announced that it has completed its previously announced 1-for-10 reverse stock
split of its outstanding common stock. The Company's common stock will begin
trading under its new post-reverse split ticker symbol (ICNS) at the opening of
trading, today, June 9, 2005. The Company also received a new CUSIP
identification number (#45326F 20 7) for its common stock.
Chairman and CEO Tom Sweeney said, "The reverse split aligns the Company's
capitalization structure and helps position our stock to be purchased by new
institutional investors as part of the overall investor relations objective.
This is also another step toward positioning the Company to move to a larger
exchange."
Stockholders of record on June 8, 2005 will be furnished instructions for
exchanging their existing stock certificates for new stock certificates.
Stockholders with shares held in street name with a brokerage firm will have
their accounts adjusted by their respective brokers. Stockholders should not
destroy any stock certificates and should not submit any certificates to the
Company's transfer agent until requested to do so.
ABOUT INCENTRA SOLUTIONS, INC.
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Incentra Solutions, Inc. (www.incentrasolutions.com, OTCBB:ICNS) is a
provider of complete IT & storage management solutions to broadcasters,
enterprises and managed service providers worldwide. Incentra's complete
solution includes professional services, hardware & software products with first
call support, IT outsourcing solutions and financing options. To the broadcast
market, Incentra delivers complete digital archive management and transcoding
solutions built on its IT and storage expertise and offerings.
INCENTRA SOLUTIONS FORWARD LOOKING STATEMENTS
CERTAIN INFORMATION DISCUSSED IN THIS PRESS RELEASE MAY CONSTITUTE
FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995 AND THE FEDERAL SECURITIES LAWS. ALTHOUGH THE
COMPANY BELIEVES THAT THE EXPECTATIONS REFLECTED IN SUCH FORWARD-LOOKING
STATEMENTS ARE BASED UPON REASONABLE ASSUMPTIONS
INCENTRA
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SOLUTIONS, INC.
1140 Pearl Street, Boulder, Colorado 80302
AT THE TIME MADE, IT CAN GIVE NO ASSURANCE THAT ITS EXPECTATIONS WILL BE
ACHIEVED. READERS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE
FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE INHERENTLY SUBJECT TO
UNPREDICTABLE AND UNANTICIPATED RISKS, TRENDS AND UNCERTAINTIES SUCH AS THE
COMPANY'S INABILITY TO ACCURATELY FORECAST ITS OPERATING RESULTS; THE COMPANY'S
POTENTIAL INABILITY TO ACHIEVE PROFITABILITY OR GENERATE POSITIVE CASH FLOW; THE
AVAILABILITY OF FINANCING; AND OTHER RISKS ASSOCIATED WITH THE COMPANY'S
BUSINESS. FOR FURTHER INFORMATION ON FACTORS WHICH COULD IMPACT THE COMPANY AND
THE STATEMENTS CONTAINED HEREIN, REFERENCE SHOULD BE MADE TO THE COMPANY'S
FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION, INCLUDING ANNUAL REPORTS ON
FORM 10-KSB, QUARTERLY REPORTS ON FORM 10-QSB AND CURRENT REPORTS ON FORM 8-K.
THE COMPANY ASSUMES NO OBLIGATION TO UPDATE OR SUPPLEMENT FORWARD-LOOKING
STATEMENTS THAT BECOME UNTRUE BECAUSE OF SUBSEQUENT EVENTS.
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