FORT LAUDERDALE, Fla.,
Nov. 13 , 2013 /PRNewswire/
-- Peter Villiotis, CEO of PV Enterprises International (OTC
Pink: VDSC) (hereinafter referred to as the "Company"), would
like to inform shareholders and interested parties alike as to
recent corporate activities which have transpired over the past few
months. These topics include:
- CURRENT CORPORATE SHARE STRUCTURE
- ANIT-DILUTION PROVISIONS
- PROPOSED CORPORATE BUYBACK OF SHARES
- UPLISTING TO NASDAQ MARKET PLACE
Many shareholders have corresponded with the Company
expressing concern about the increases in the Authorized Shares and
possibility of dilution to current shareholders.
Let me assure you that the Company has NO intention of diluting
shareholders and is in fact initiating a share buyback of up to 340
million of its shares via open market
transactions. These purchases will begin
immediately and last for a period of not less than 6 months. The
Company further wishes to advise its shareholders of the breakdown
of the current share structure:
There are currently 2.94 Billion shares
Authorized. Of the 2.94 Billion shares, 1
Billion are preferred/restricted shares, unissued as of the date of
this press release, and are segregated for the sole purposes of
mergers/acquisitions. Once issued, these shares
will be restricted from sale for a period of not less than 1 year.
The remaining 1.94 Billion shares are comprised of the
following:
- 1.2 Billion shares have been purchased by a qualified
investment conglomerate interested in furthering PV Enterprises
International for the sole purpose of applying for up listing to
the NASDAQ World Market Exchange.
- The remaining 740 Million shares are currently in the
tradable float, available to the general public.
The Company, in line with minimum equity application
standards to list on the NASDAQ, believes that it is in the best
interests of the Company to immediately effectuate an open market
purchase of its stock, (SHARE BUYBACK), which shall commence for a
period of not less than six months. It is the Company's
intention to buyback approximately 340 Million of its shares via
open market purchases from the tradable float and then subsequently
retire those shares back into the Company's Treasury. This
would then afford the Company a more manageable public float of
approximately 400 million shares which the Company feels is
sufficient enough to provide for market liquidity going
forward.
The Company would further like to advise its shareholders
that a Reverse Split of the Company's shares is not being
contemplated, planned or proposed anytime within the next 2
years. The Company is confident in its business
plan going forward, the revenues that plan will generate, combined
with the proposed share buyback and resulting public float, that
should be sufficient to procure an application to a higher exchange
and ultimately the NASDAQ.
As previously stated the Company shall be issuing an
additional press release this week highlighting one of our many
recently signed revenue-generating contracts.
Safe Harbor Statement
This press
release contains statements, which may constitute forward-looking
statements within the meaning of the Securities Act of 1933 and the
Securities Exchange Act of 1934, as amended by the Private
Securities Litigation Reform Act of 1995. Those statements
include statements regarding the intent, belief or current
expectations of PV Enterprises International, Inc., members of
their management, and assumptions on which such statements are
based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those contemplated by such forward-looking
statements.
SOURCE PV Enterprises International Inc