Park City Group, Inc. (NASDAQ: PCYG), the parent company of ReposiTrak,
Inc., a B2B e-commerce, compliance, and supply chain platform that
partners with retailers, wholesalers, and their suppliers, to accelerate
sales, control risk and improve supply chain efficiencies, today
announced that its Board of Directors has approved the repurchase of up
to $4 million of the company’s common stock.
Randall K. Fields, Chairman and CEO of Park City Group, commented, “We
continue to strategically focus on maximizing profitability and cash
flow. Given the inherent leverage of our operating model, we expect that
as we continue to expand the scale and scope of our network, we will
generate sufficient net income and free cash flow to allow us to
allocate capital to this share repurchase program while continuing to
strengthen our cash position. The Board has authorized this program
because we believe our shares represent an attractive investment
opportunity and that this investment in our own business is an
appropriate option for driving value for all shareholders.”
Under this new stock repurchase program, Park City intends to conduct
its program in accordance with all applicable securities laws and
regulations, including Rule 10b-18 of the Securities Exchange Act of
1934, as amended. Repurchases may be made at management’s discretion
from time to time on the open market or through privately negotiated
transactions. The repurchase program has been authorized for a period of
two years and it may be suspended for periods or discontinued at any
time.
About Park City Group:
Park City Group, Inc. (NASDAQ: PCYG), the parent company of ReposiTrak,
Inc., a compliance, supply chain, and e-commerce platform that partners
with retailers, wholesalers and their suppliers, to accelerate sales,
control risk, and improve supply chain efficiencies. More information is
available at www.parkcitygroup.com
and www.repositrak.com.
Forward-Looking Statement
Any statements contained in this document that are not historical facts
are forward-looking statements as defined in the U.S. Private Securities
Litigation Reform Act of 1995. Words such as “anticipate,” “believe,”
“estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,”
“predict,” “if”, “should” and “will” and similar expressions as they
relate to Park City Group, Inc. (“Park City Group”) are intended to
identify such forward-looking statements. Park City Group may from time
to time update these publicly announced projections, but it is not
obligated to do so. Any projections of future results of operations
should not be construed in any manner as a guarantee that such results
will in fact occur. These projections are subject to change and could
differ materially from final reported results. For a discussion of such
risks and uncertainties, see “Risk Factors” in Park City’s annual report
on Form 10-K, its quarterly report on Form 10-Q, and its other reports
filed with the Securities and Exchange Commission under the Securities
Exchange Act of 1934, as amended. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as
of the dates on which they are made.
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