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Left Behind Games to Move to Nevada and Announces Stock Split and Share Buyback


Published on 2010-11-23 12:05:28 - Market Wire
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LOS ANGELES--([ BUSINESS WIRE ])--[ Left Behind Games Inc ]. [ (OTC: LFBG) ], a leading publisher of Christian video games, announced today its intent to reduce its outstanding common stock shares by 40% on January 11, 2011, the record date. At 12:01am (EST) on January 12, 2011, every five shares of issued and outstanding common stock shares held by shareholders will be converted and reconstituted into three shares as part of the transactions to facilitate the domicile change. Fractional shares resulting from the share exchange will be rounded up to the nearest whole number.

LB Games® CEO, Troy Lyndon, says, aWe had intended to reduce the share count to pre-forward-split levels of a year ago, but the Board of Directors decided that a 70% reduction would be too much of a change. We then considered a 3 for 2, which is only a 33.3% reduction. However, in the best interest of our shareholders, we decided on a 5 for 3 split, which represents a 40% reduction in our outstanding shares. Based upon five major factors, the Board of Directors has given management the authorization to buy back shares in the event we determine our market-cap is undervalued because of our:

  • current strength of operations;
  • highest levels of revenue/cash-flow in the companya™s history;
  • market potential for the emerging sector of Christian video games;
  • our dominance in this new market; and
  • anticipation of imminent profitability.a

About Left Behind Games Inc.

Left Behind Games Inc., dba Inspired Media Entertainment, is the only publicly-traded exclusive publisher of Christian video game software. They produce quality interactive entertainment products that perpetuate positive values and appeal to faith-based and mainstream audiences. For more information, go to [ www.leftbehindgames.com ].

LB GAMES, LEFT BEHIND 3: RISE OF THE ANTICHRIST, CHARLIE CHURCH MOUSE, PRAISE CHAMPION AND KING SOLOMONa™S TRIVIA CHALLENGE are trademarks of Left Behind Games Inc. in the U.S. and other countries. All rights reserved. LEFT BEHIND is a registered trademark of Tyndale House Publishers, Inc. in the U.S. and other countries. All rights reserved.

Caution Concerning Forward-Looking Statements

This release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or expectations of Left Behind Games. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that results may differ materially from such statements.

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