The Automotive Resource Network Holdings, Inc. (ARNH) Announces It
will be issuing Anti-Dilutive Convertible Preferred Securities to
all of its common shareholders to protect their Investments.
NEW YORK, April 25, 2013 /PRNewswire/ -- (OTC Pink:
ARNH) The Automotive Resource Network Holdings Inc.'s
CEO, Kathleen Roberton, is pleased to announce that ARNH is
set to issue a specific class of Anti-Dilutive Convertible
Preferred Securities to all of its common shareholders. The massive
dilution, in the market, that was incurred through the removal of
CONVERTIBLE DEBT on the Company's balance sheet wiped out a lot of
equity that shareholders had in ARNH's security.
CEO Kathleen Roberton states, "We had to remove the
compounding convertible debt off of our balance sheet because it
was a derivative liability that would have destroyed ARNH's future
growth prospects. We knew that signing off on these issuance
resolutions might destroy shareholder value, but it was a necessary
evil, if we were going to attract new equity to our balance sheet,
and start meeting the objectives of our Three Step Plan. We have
thus, come up with a solution to protect our stock holders from the
losses they incurred in the open market.
We are going to issue our stockholders, who are on our NOBO
list, Anti-Dilutive Convertible Preferred Shares that are priced at
$2.50 per share, but convert at our
par value, $0.00001 par. These
securities will be issued to each stockholder, at no cost to the
recipients. Next, we are then going to ask our stockholders
to convert 1 or 2 preferred shares into 100,000 / 200,000 common
shares, through our Transfer Agent, once we restructure the price
and the Issued Capital of the Company. These securities will form
the backbone of our registration statement with the SEC. After the
SEC issues an EFFECTIVE, the converted securities will become
freely traded for all our stockholders, at a quoted price of
$2.50 per share. This event will
likely be structured through a licensed BD firm, and will provide
our stockholders with access to more shares, at a higher quoted
price, and an opportunity to recoup losses from the debt issuances
that the Company signed off on. There will be no costs incurred
with the handling of transfer of these securities on the part of
the stockholders. "
Kathleen Roberton, further states,
"We are committed to buying more assets and completing forward
acquisitions using our convertible preferred securities as
currency. Many of the assets and businesses that we are looking to
purchase, and audit, will be revenue generating. Malone Bailey will
be doing a two year audit on the Company so that we can file a
registration statement with the SEC. The revenue, from these
acquisitions, will flow through the preferred securities thereby
creating dividends for the Preferred Shareholders. To date, each
company acquired has expressed a greater interest in the tax saving
dividends than in the tax occurring conversion. Therefore, giving
dividends is very important as we desire to repair shareholder
confidence, by issuing convertible preferred securities that have
the same rights and privileges that myself and the insiders own.
In this way, if the company arranges a reverse split to
restructure itself to be quoted at $2.50 per share, management, and its investors
will not suffer any further dilution. The Company also warrants
that it will no longer sanction or sign off on any further issuance
resolutions, debt or otherwise, unless it is part of a Registration
Statement with the SEC. We will be updating our shareholders
through a general conference call, which we will publicly announce
within the coming weeks. For further clarification, on the contents
of this press release, please refer all inquiries to Mr. Luwayne J
Santana at harvardtrust@execs.com.
About The Automotive Resource Network Holdings Inc.:
The Automotive Resource Network Holdings, Inc. is newly emerging
as a holding company targeting the acquisition of undervalued,
niche companies with high growth potential, income-producing
commercial real estate properties and high return investments all
designed to pay a dividend to our shareholders.
FORWARD-LOOKING STATEMENT
ARNH cautions that the statements made in this press release
constitute forward-looking statements, and does not guarantee
future performance and actual results or developments may differ
materially from the projections in the forward-looking statements.
Forward-looking statements are based on the estimates and opinions
of management at the time the statements are made.
SOURCE The Automotive Resource Network Holdings, Inc.