DND Technologies Board Chairman Updates Shareholders on the Company's Reverse Stock Split.
January 18 2013 - 10:46AM
OTC Markets
DND
Technologies, a diversified holding company that acquires,
invests in,
and partners with next generation start-ups and established
businesses to bring
new or improved products to market, has undergone a reverse stock
split as
approved by a shareholder majority and the Board of
Directors.
Dear
Shareholders: Those of you who made frequent inquiries of the
company will
recall that management, like many of you, was disinclined to
recommend a
reverse split of the company’s stock for fear of an even temporary
loss of
shareholder value. However, the
stagnation of the share price at sub-penny levels for a prolonged
period has not
only caused a serious loss in shareholder value, but has negatively
affected
management’s ability to finalize several important projects that,
we believe,
will bring good, long term value to all shareholders. Without
the completion of on-the-table and
new investments/acquisitions, we believe that shareholder value
would continue
to be eroded, leaving the majority of early shareholders at a
current value
disadvantage, and, in the long run, eroding value for all
shareholders.
To
be sure, management’s recommendation for the reverse split came
only after wide
consultation, and with the anticipation that the company would be
able to
complete several ongoing and new transactions, only a few of which
include: (1)
Cinturi: http://cinutri.com.
A mobile shopping start-up (with very
good financial projections) in Brazil whose pilot project will be
done in
partnership with a very well known international online and mobile
payments
company. (2) Poprad: http://www.corrib.sk.
Already announced condominium project in the Czech Republic that
has almost
completed phase one of three phases; (3) Intex:
http://intexfm.com. A start-up stock
crossing
network that will be based in Nassau, The Bahamas. As noted
in previous press releases, there
are several other very exciting and potentially lucrative projects
in train.
Having
witnessed reverse splits before, management expects to be the
target of some
interesting, if unflattering expressions by unhappy shareholders.
Rather than
be upset, we encourage this as a good thing because, when all is
said and done,
the company rightfully belongs to the shareholders and they should
feel free to
express themselves in new and exciting ways, and always to hold
management’s
feet to the fire. However, management believes that this reverse
split will,
very shortly, start returning well deserved value to those
shareholders who,
like management, are in it for the long run and hope to build a
good, strong,
diversified DND Technologies.
Safe
Harbor Statement
Matters
discussed in this press release contain forward-looking statements
within the
meaning of the Private Securities Litigation Reform Act of 1995.
When used in
this press release, the words "anticipate,"
"believe,""estimate," "may," "intend,"
"expect" and similar expressions identify such forward-looking
statements. Actual results, performance or achievements could
differ materially
from those contemplated, expressed or implied by the
forward-looking statements
contained herein. These forward-looking statements are based
largely on the expectations
of the Company and are subject to a number of risks and
uncertainties. These
include, but are not limited to: the impact of economic,
competitive and other
factors affecting the Company and its operations, markets, product,
and
distributor performance.
Jonathan Peters: Board
Chairman