Message #6 From:
NewsBot Date: April 20, 2005 07:33:43 PM
AITX Airtrax Announces Results of Special Meeting of Shareholders
Airtrax Announces Results of Special Meeting of Shareholders
HAMMONTON, N.J. - PRNewswire-FirstCall - April 8
HAMMONTON, N.J., April 8 /PRNewswire-FirstCall/ -- Airtrax, Inc. (OTC:AITX) (BULLETIN BOARD: AITX) , a developer of patented, Omni-Directional Technology with military and commercial applications, announced today the results of its special meeting of shareholders held on March 28, 2005.
Shareholders attending the meeting, and those voting by proxy, approved all three proposals. First, shareholders approved the amendment to the Company's Certificate of Incorporation to increase the number of authorized shares of common stock from 20 million shares to 100 million shares. Second, shareholders approved the amendment to the Company's Certificate of Incorporation to increase the authorized shares of the Company's "blank check" preferred stock from 500,000 to 5 million shares. Third, shareholders approved the amendment to the Company's Certificate of Incorporation to provide, to the fullest extent permitted by New Jersey law, that the Company's directors and officers shall not be personally liable to the Company or its shareholders for damages for breach of such director's or officers fiduciary duty.
About Airtrax, Inc.
A U.S.-based developer of omni-directional technology, Airtrax designs and manufactures omni-directional vehicles. A patented wheel was designed and developed by Airtrax after receiving a technology transfer from the US Navy in the form of a Cooperative Research and Development Agreement (CRADA).
The SIDEWINDER(TM) Omni-Directional Lift Truck, and the Airtrax-MEC Cobra (TM) aerial work platform (AWP) are the first omni-directional vehicles using omni-directional technology and the patented Airtrax wheel to be commercially produced. Unlike any other lift truck, the SIDEWINDER or the Cobra AWP can turn 360 degrees in its own footprint, travel sideways or move in any direction, allowing warehouses to increase storage density up to 20 - 30%. The nearly maintenance-free design also reduces maintenance costs, delivering cost efficiencies to companies both large and small. The Airtrax patented Omni- Directional wheel is manufactured exclusively for Airtrax vehicles. For more information and to view a must-see product demonstration, visit http://www.airtrax.com/.
The Private Securities Litigation Reform Act of 1995 provides a "Safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involved risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
CONTACT: U.S. Investor Relations: Gary Geraci, OTC Financial Network, +1-617-723-2373, garyg@otcfn.com.
Airtrax, Inc.
Web site: http://www.otcfn.com/aitx
http://www.airtrax.com/
