QED Connect, Inc. Approves Buyback Strategy

QED Connect, Inc. (QEDN) today announced that its Board of Directors has approved a buyback of up to 10% of QED's outstanding common stock. The buyback program, if fully completed, will reduce outstanding shares by approximately 1 billion and is expected to be completed over the next 90 days. QED is currently in discussions with a potential investor to raise the funds for the proposed buyback. Tom Makmann, President and CEO of QED Connect, Inc added, "The decision to re-purchase the stock is in preparation for QED to continue its acquisition strategy. We are currently looking at opportunities for additional strategic partners that would complement our business model. Our recently initiated joint venture, Sofame Energy, Inc., is in process of ramping its business in the US and we expect to begin realizing the benefits during this quarter."