Geospatial Holdings CEO Increases Equity Position by $2 Million
PITTSBURGH, November 3, 2009 (BUSINESS WIRE) -- Geospatial Holdings, Inc. (OTCBB: GSPH) announced today that the Company’s Chairman and CEO, Mark A. Smith has increased his equity position in the Company by converting $2 million of capital invested into the Company into equity. Mr. Smith converted the $2 million into 2 million shares of common stock at a price of $1.00 per share.
Mr. Smith stated, “I am delighted for the opportunity to increase my ownership position in Geospatial at these valuation levels.”
About Geospatial Holdings, Inc.
Geospatial Holdings, Inc. through its wholly-owned subsidiary Geospatial Mapping Systems, Inc., doing business as Geospatial Corporation, utilizes proprietary technologies to determine the accurate location and position of underground pipelines, conduits and other underground infrastructure data allowing Geospatial to create accurate three-dimensional (3D) digital maps and models of all underground infrastructure. Our website is www.GeospatialCorporation.com.
GeoUnderground, the company's powerful geographic information system (GIS) database enables users to view and utilize this 3D pipeline mapping information securely from any desktop, laptop or PDA such as a Blackberry or an iPhone. GeoUnderground seamlessly integrates with all known technologies gathering above-ground geo-referenced digital information and all standard GIS databases.
Licensed users, for the first time, have available to them a suite of technologies allowing them to collect data and create highly accurate 3D maps and models of both above-ground and below-ground infrastructure and view and share this invaluable information in a secure manner with their peers and associates anywhere in the world through a conventional browser via the internet.
Geospatial provides proprietary data acquisition technologies which accurately locate and map underground and above ground infrastructure assets such as pipelines and surface features via its GeoUnderground web-based portal. Additional information can be found at the following link: www.geospatialcorporation.com/flashTutorial.html