SPYR Dividend Amounts to Free Money For Company's Shareholders
April 18 2017 - 8:38AM
Marketwired
NEW YORK, NY-(Marketwired - April 18, 2017) - SPYR, Inc. (OTCQB:
SPYR) announced that it will give all of its shareholders of record
as of May 19, 2017, a dividend in the form of shares in what is to
become a new and separate publicly traded company. SPYR will issue
each of its shareholders an equal number of shares (1 for 1) in a
new spin-off company, which SPYR is creating in order to divest
itself from its restaurant division. So, if you own 1000 shares of
SPYR on May 19th, you'll receive an additional 1000 shares of the
newly formed spin-off company.
Basically, SPYR is rewarding its shareholders for their patience
and loyalty to the company. Simply by being a shareholder of record
of SPYR on May 19th, each shareholder will be rewarded with
dividend shares. SPYR has stated that after it concludes the
spin-off of the restaurant division, the newly formed company will
file a registration statement with the Securities and Exchange
Commission qualifying it as a separate publicly traded entity with
a separate trading symbol.
What does this mean for investors? Well, before SPYR, Inc. ever
existed, there was Eat at Joes, and it traded under the ticker
symbol JOES. In the months leading up to the change in the
company's business model, which eventually became SPYR, Inc., JOES
was trading between .20-50/share.
If the new spin-off company falls into the same price per share
range, then owning 20,000 shares of SPYR on May 19th would mean
you'd own between $4,000 and $10,000 worth of the new company. If
you own 50,000 shares of SPYR on May 19th, then, using the
previously stated price per share, you'd own between $10,000 and
$25,000 worth of the new company - free money.
JOES back then was what this new spin-off company will become -
the restaurant division. SPYR recently stated that the spin-off
company will focus on the licensing or possibly franchising of the
Eat at Joe's® name and concept and will also include the
manufacture and distribution of branded foods. The company said it
plans to achieve its goals related to "branded foods" in part by
acquiring companies with new and interesting food concepts.
The good news to investors who will be receiving the dividend is
that just like SPYR trades as a low float stock, which moves very
easily with the least bit of volume, the new spin-off company will
also be a low float stock. And if SPYR has bigger plans for the new
spin-off company, the market could certainly set the price per
share much higher than the aforementioned examples.
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updates, alerts and information on SPYR, Inc. ["SPYR"]. Our
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press releases, and SPYR's legal disclosures made in SPYR's filings
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Counsel for Securities and Regulatory compliance, Mailander Law
Office, Inc.
Separate from the confirmed factual content of our articles
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are provided solely for the general opinionated discussion of our
readers. Our opinions should not be considered to be complete,
precise, accurate, or current investment advice, or construed or
interpreted as research. Any investment decisions you may make
concerning SPYR or any other securities are solely your
responsibility based on your own due diligence. Our publications
about SPYR are provided only as an informational aid, and as a
starting point for doing additional independent research. We
encourage you to invest carefully and read the investor information
available at the web site of the U.S. Securities and Exchange
Commission at: www.sec.gov, where you can also find all of SPYR's
filings and disclosures. We also recommend, as a general rule, that
before investing in any securities you consult with a professional
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SPYR agreed to compensate us with a monthly fee of $5,000.00.
Additionally, SPYR agreed to issue to us 250,000 shares of SPYR's
Restricted Common Stock. Our rights to sell any of this Restricted
Common Stock are subject to prior compliance with all U.S.
Securities Laws, including but not limited to Rule 144. Further,
our sale of any of the Restricted Common Stock is subject to a
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