Hi Score Past CEO Locks Up His Shares
Hi Score Corporation (PINKSHEETS: HSCO) announced today that it has entered into a "Lock Up Agreement" with its Past President and CEO Mr. Dror Svorai, wherein Mr. Svorai agrees to hold his common shares in the company until December 1, 2011. Svorai owns forty million shares of common stock of the company which he received in October of 2009 as part of the company's merger between Hi Score and Green LED Technology Inc. Mr. Svorai served as Director, President and CEO of the company until April of this year when he stepped down as Director, President and CEO. When Mr. Svorai stepped down the company was saddled with several hundred thousand dollars of debt to outside investors, which was incurred as part of development of the company. The company has been retiring the debt over the past several months which has caused downward pressure on the stock. Now that a significant share of the debt has been retired the company expects to see a significant relief in this downward pressure. "I understand that developing a renewed confidence in the stock again is a slow process... but I see that it has begun," said Svorai. "I believe that I am the largest shareholder and I wanted to tell the world that I have confidence in the future of Hi Score., it must be clearly aware of that wholesale promotional items there are still problems existing in the current LED lighting industry., fitting into wooden decking, by drilling through a Insulator small hole, and pushed in, to give a small light in the surface of the decking. Although they are not impressive during the day, at night they give a delightful effect... that is why I have agreed to hold my stock for at least another year..., its weight is a big patio table covers challenge for the lamp bases. Second is the issue of life span. The key factor that determines its life span is the drive boards inside it. There are times that the lamp wick is damaged first but the driving system is not damaged. Besides, its luminous output degradation is serious, also,. pet supply store has the defects above, though, it is still a perfect alternative for family lighting. Emphasis should be put on aspects like brand establishment and lights production as well as the improvement on its practicability. I am very excited about the company's recent acquisition of DMD Lighting and Energy Control Systems."
Regarding the lock up,, many corporation of the LED illumination are facing the radiating problem. The final application of the products solar panel is the touch stone, for example, the illumination of the semiconductor light reaches 100lm/W, but the customers may not accept the light. Michael Zoyes, CEO and President of Hi Score, commented that "Having Dror's confidence in our plans is very reassuring... insomuch as he founded the company and has the majority voting bloc... he has the most to gain from our success."
"It has been a turbulent ride... that has caused us to adjust," said Zoyes, "we are however, very optimistic and excited about the upcoming year. I am very excited about our future growth and expansion plans."
Hi Score Corporation (PINKSHEETS: HSCO) announced today that it has entered into a "Lock Up Agreement" with its Past President and CEO Mr. Dror Svorai, wherein Mr. Svorai agrees to hold his common shares in the company until December 1, 2011. Svorai owns forty million shares of common stock of the company which he received in October of 2009 as part of the company's merger between Hi Score and Green LED Technology Inc. Mr. Svorai served as Director, President and CEO of the company until April of this year when he stepped down as Director, President and CEO. When Mr. Svorai stepped down the company was saddled with several hundred thousand dollars of debt to outside investors, which was incurred as part of development of the company. The company has been retiring the debt over the past several months which has caused downward pressure on the stock. Now that a significant share of the debt has been retired the company expects to see a significant relief in this downward pressure. "I understand that developing a renewed confidence in the stock again is a slow process... but I see that it has begun," said Svorai. "I believe that I am the largest shareholder and I wanted to tell the world that I have confidence in the future of Hi Score., it must be clearly aware of that wholesale promotional items there are still problems existing in the current LED lighting industry., fitting into wooden decking, by drilling through a Insulator small hole, and pushed in, to give a small light in the surface of the decking. Although they are not impressive during the day, at night they give a delightful effect... that is why I have agreed to hold my stock for at least another year..., its weight is a big patio table covers challenge for the lamp bases. Second is the issue of life span. The key factor that determines its life span is the drive boards inside it. There are times that the lamp wick is damaged first but the driving system is not damaged. Besides, its luminous output degradation is serious, also,. pet supply store has the defects above, though, it is still a perfect alternative for family lighting. Emphasis should be put on aspects like brand establishment and lights production as well as the improvement on its practicability. I am very excited about the company's recent acquisition of DMD Lighting and Energy Control Systems."
Regarding the lock up,, many corporation of the LED illumination are facing the radiating problem. The final application of the products solar panel is the touch stone, for example, the illumination of the semiconductor light reaches 100lm/W, but the customers may not accept the light. Michael Zoyes, CEO and President of Hi Score, commented that "Having Dror's confidence in our plans is very reassuring... insomuch as he founded the company and has the majority voting bloc... he has the most to gain from our success."
"It has been a turbulent ride... that has caused us to adjust," said Zoyes, "we are however, very optimistic and excited about the upcoming year. I am very excited about our future growth and expansion plans."
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