STOWE, Vermont ??вЂќ Prime Rate Investors, Inc.’s (OTC.PK: PRRM) board of directors announced it decided unanimously to reduce the company’s authorized shares to 80 billion shares of PRRM common stock. As such, the shares are subject to all SEC and regulatory statutes. The company’s share structure will be updated on and can be viewed at www.pinksheets.com.
PRRM President Dan Burgess asserted that the non-dilutive adjustment “will realize increased value to shareholders.”
Prime Rate Investors (OTC.PK: PRRM) is a multi-media holding company with interests in outdoor sports, e-tail, retail, print, web, television and film. The company’s strategic relationships with multi-faceted, outdoor sports entities allow it to offer diverse advertising solutions to businesses seeking multi-media exposure. Its wholly owned subsidiaries include Stowe TV-10 and Adirondack TV-33, RSN affiliated cable broadcast companies and High Angle Media, Inc., a video production company that also manages two other RSN affiliates Sugarbush TV-12 and Smuggs TV-9. The Company’s subsidiary, BCTV produces the outdoor adventure series “Backcountry TV.” Prime Rate Investors also owns the majority interest of Stockli Ski USA, the exclusive U.S. distributor of Stockli skis, bikes and sportswear.