PCS Edventures! COO Adopts 10b5-1 Plan
http://www.edventures.com () —
PCS Edventures!.com, Inc. (OTCBB: PCSV), a leading provider of K-12 programs that focus on Science, Technology, Engineering and Mathematics (STEM), today announced that Robert O. Grover, the company's COO, President and Chief Technology Officer, has adopted a prearranged trading plan in accordance with guidelines specified by Rule 10b5-1 under the Securities and Exchange Act of 1934 and the company's policies related to sales by insiders.
Rule 10b5-1 permits public company officers, directors and other insiders to adopt written, pre-arranged stock trading plans when they are not in possession of material nonpublic information. Using these plans, insiders may gradually diversify investment portfolios and spread stock sales over a period of time, regardless of any material nonpublic information they may receive after adopting the plan.
Under his 10b5-1 plan, Mr. Grover intends to sell, each month for twelve months beginning in April 2010, that number of shares of PCS common stock necessary to generate $5,000 plus brokerage commissions. In accordance with Rule 10b5-1, Mr. Grover will not have any discretion over timing or amount of sales of PCS stock under his plan. Prior to the effective date of the plan, Mr. Grover sold 24,738 shares of PCS common stock to help meet personal financial planning goals. This 10b5-1 plan will facilitate the orderly sale of common stock for personal financial planning purposes with the goal of minimizing any market impact and avoiding any concerns about the timing of the transactions. Mr. Grover's sales of PCS stock under this plan will be publicly reported to the Securities and Exchange Commission in accordance with applicable securities laws, rules and regulations.
About PCS Edventures!
PCS Edventures! is the recognized leader in the design, development and delivery of educational learning labs bundled with related technologies and programs to the K-12 market worldwide. The PCS suite of products includes hands-on learning labs involving such technology-rich topics as Science, Technology, Engineering and Math (STEM), along with other products and services that are rich in imagination, innovation, and creativity. PCS programs have been deployed at over 6,000 sites in all 50 United States and in 17 countries internationally. Additional information is available at http://www.edventures.com (http://www.edventures.com) .
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting factors that could materially affect the Company and its operations are contained in its annual report on Form 10-K for the year ended March 31, 2009 and Form 10-Q for the nine months ended December 31, 2009 as filed with the Securities and Exchange Commission.