Wanderport Releases Share Structure
February 25 2010 - 2:00PM
Marketwired
Wanderport Corp. (PINKSHEETS: WDRP) today released its current
share structure following a return and cancellation of 130 million
shares to treasury.
As previously reported by the company, reasons for returning the
130 million shares are threefold. Shares controlled by outgoing
President, Mr. Barry Somervail, have been returned, as well as,
shares destined for the acquisition of a percentage participation
in an electric vehicle project that was never consummated. Lastly,
Mr. Robert Simoneau, product licensor and Wanderport's Technical
Product Advisor, has graciously returned a portion of stock to the
treasury, as a result of Wanderport satisfying a timeline milestone
towards production.
To provide transparency to shareholders
Wanderport has provided this timely information as per below:
Until the company's recent announcement that 130 million shares
were being returned to treasury for cancellation, Wanderport's
share structure had not been modified since September 30th, 2009
when the company filed its Initial Company Information and
Disclosure Statement. However, approximately 15 million shares were
not issued in time for the filing in September 2009. As a result,
the actual revised total shares outstanding are 642,500,940
including the return of 130 million to treasury.
Further to this, the company has learned that the transfer agent
had erroneously indicated that the company's restricted stock total
was only 60 million shares when it was really 560 million shares
prior to the return and cancellation of 130 million shares to
treasury. The company hopes this has not inconvenienced
shareholders.
In management's opinion and after corresponding
with the transfer agent, the following is the most accurate share
structure: Authorized Shares: 1.2 billion Outstanding Shares:
642,500,940 Restricted Stock: 430,000,940 million shares Float
share estimate: 212,500,000 Number of shareholders on record:
375
"With Sales forecasted in the area of 144 million over five
years, and total outstanding shares of 642,500,940, Wanderport is
on target for $0.22 revenues per share over the same period and
with our projected sustained growth, a larger sales figure is to be
expected," stated Richard Martel, Wanderport's President and CEO.
"A multiple of 5 times sales would bring revenues per share to
$1.12 , which is an excellent value for shareholders and it is our
objective to continue to build sustainable shareholder value for
years to come," continued Mr. Martel.
About Wanderport Corporation: Wanderport
Corporation is a holding and business development company making
investments, acquiring licenses and deployment of environmentally
friendly "Green" technologies such as, primary alternative,
renewable energy and energy saving products namely Pulsar's
microwave energy tank-less water heater, which reduces water and
energy consumption as well as global dependence on oil. Pulsar Advanced Technologies Inc. was the proud recipient of
the 2005 TIPTA award (TCA; Toronto Construction association,
Innovative Product and Technology Award), recognizing excellence in
innovation in product or technology development, or its application
of its microwave energy tank-less water heater.
Important Information About Forward-Looking
Statements: Please be advised that statements made herein,
other than historical data, constitute forward-looking statements
that involve risks and uncertainties that could cause actual
results to differ materially from those stated or implied by such
forward-looking statements. The potential risks and uncertainties
include, among others, potential volatility in the company's stock
price, increased competition, customer acceptance of new products
and services to be offered by the company, and uncertainty of
future revenue and profitability and fluctuations in its quarterly
operating efforts.
Contact Wanderport Corporation at: www.wanderport-ir.com Email:
inquiries@wanderport-ir.com +1 (917) 338-7957
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