Freedom Energy Holdings, Inc. Announces 500 Million Share Reduction, No Reverse
March 12 2014 - 9:20AM
Marketwired
Freedom Energy Holdings, Inc. Announces 500 Million Share
Reduction, No Reverse
FORT WAYNE, IN--(Marketwired - Mar 12, 2014) - Freedom Energy
Holdings, Inc. (OTC: FDMF) CEO Brian Kistler today announced that,
as promised on August 28, 2013, he has submitted the documentation
to have 500 million common shares exchanged for 5,000 Preferred
Series D shares.
"In August 2013 I announced that at the appropriate time I
planned on reducing the amount of common shares that were issued to
me for control. I am happy to report that I have decided it is time
to reduce the Issued and Outstanding common shares by an additional
500 million shares. This leaves me with 1.0 billion shares of which
my plan is to do the same with these shares as well," stated
Kistler.
"I am very enthusiastic for the company's future as we enter
into the spring and summer months. I have announced the recent
advances that we have made regarding the 'ELAS' project and I trust
that I will have further news to report in the very near future,"
stated Kistler.
Kistler continued, "I have received several inquiries, regarding
the possibility of a reverse split and I can say without
reservation that at this time I have neither reason nor intentions
of initiating any recapitalizations of the company's capital
structure. The pressure to do a reverse split comes from failed
attempts to raise capital and ill advised share issuances to
nefarious groups that promise the world and produce very little in
shareholder value.
"There have been mistakes made on my part in the past, and
hopefully I have worked through the mistakes and am ready to
exploit the true value of the company. The current number of common
shares in the float is totally from the conversion of aged debt for
individuals that have been supporting the Company's efforts since
2007. If for no other reason, I will not reverse split the common
shares to the detriment of the faithful long term investors,"
concluded Kistler.
Additionally, the Company has entered into substantive
negotiations with opportunities related to a new and explosive
industry that, if consummated, will add to the excitement for the
company and ultimately shareholder value.
ABOUT FREEDOM ENERGY
HOLDINGS, INC: Freedom Energy Holdings, Inc. (OTC: FDMF) is
a holding company that specializes in the identification and development of
technologies with commercial applications. The company's
primary focus is the commercial development of its proprietary,
breakthrough technology; (SR-139) proven to be effective at
breaking down asphalt shingles allowing the extraction and recovery
of hydrocarbons.
FORWARD LOOKING STATEMENT-This press release contains certain
"forward‐looking" statements, as defined in the United States
Private Securities Litigation Reform Act of 1995 that involve a
number of risks and uncertainties. Statements, which are not
historical facts, are forward‐looking statements. The Company,
through its management, makes forward‐looking public statements
concerning it expected future operations, performance and other
developments. Such forward‐looking statements are necessarily
estimates reflecting the Company's best judgment based upon current
information and involve a number of risks and uncertainties, and
there can be no factors that could cause actual results to differ
materially from those estimated by the Company. They include, but
are not limited to, the Company's ability to develop operations,
the Company's ability to consummate and complete the acquisition,
the Company's access to future capital, the successful integration
of acquired companies, government regulation, managing and
maintaining growth, the effect of adverse publicity, litigation,
competition, sales and other factors that may be identified from
time to time in company's public announcements.
Contact: Brian Kistler CEO 260-490-9990