Geospatial Corporation (Formerly Geospatial Holdings, Inc.) Enters Into Settlement Agreement
01 Mayo 2014 - 12:23PM
Marketwired
Geospatial Corporation (Formerly Geospatial Holdings, Inc.) Enters
Into Settlement Agreement
PITTSBURGH,
PA--(Marketwired - May 01, 2014) - Geospatial
Corporation (PINKSHEETS: GSPH)
announced today that it has entered into a settlement agreement
with a group of investors who had brought a lawsuit against the
Company relating to their purchase of stock from the Company in
late 2009 and early 2010. Terms of the settlement were not
disclosed.
Mark A. Smith, Geospatial's CEO stated, "This litigation has
been a very time-consuming distraction. We are delighted with the
outcome and happy to put this issue behind us. We look forward
to growing Geospatial's unique underground pipeline 3D data
acquisition technologies and GeoUnderground, our Cloud-based GIS
infrastructure management system. The demand for accurate 3D
underground location and mapping of our country's infrastructure is
huge and growing rapidly."
About Geospatial Corporation
Geospatial Corporation utilizes integrated technologies to
determine the accurate location and position of underground
pipelines, conduits and other underground infrastructure data
allowing Geospatial to create accurate (3D) three-dimensional
digital maps and models of all underground infrastructure. Our
website is www.GeospatialCorporation.com. The Company manages
this critical infrastructure data on its Cloud-Based GIS Portal
called GeoUnderground. (www.GeoUnderground.com).
GeoUnderground is the company's powerful Cloud-Based (GIS)
geographic information system database that enables users to view
and utilize this 3D pipeline mapping information securely from any
desktop or mobile device. GeoUnderground seamlessly integrates with
Geospatial's technologies gathering underground, underwater or
aboveground geo-referenced digital information of all types of
infrastructure.
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
Cloud.
Geospatial provides integrated data acquisition technologies
that accurately locate and map underground and above ground
infrastructure assets such as pipelines and surface features via
its GeoUnderground Cloud-Based Portal.
Forward looking statements
This press release contains forward-looking information within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1993 and Section 21E of
the Securities Exchange Act of 1934 and is subject to the safe
harbor created by those laws. These forward-looking statements, if
any, are based upon a number of assumptions and estimates that are
subject to significant uncertainties that involve known and unknown
risks, many of which are beyond our control and are not guarantees
of future performance. Actual outcomes and results could materially
differ from what is expressed, implied, or forecasted in any such
forward-looking statements and any such difference may be caused by
risk factors listed from time to time in the Company's news
releases and/or its filings or as a result of other factors.
CONTACTPaulette
Duderstadt 412-780-6239pduderstadt@c-leveled.com
Geospatial (CE) (USOTC:GSPH)
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