Professional Diversity Network, Inc. Announces Enhanced Communications Strategy
July 26 2017 - 10:30AM
Professional Diversity Network, Inc. (NASDAQ:IPDN) (“PDN” or
the “Company”), a global developer and operator of online and
in-person networks that provide access to networking, training,
educational and employment opportunities for diverse individuals,
today announced the launch of a comprehensive corporate
communications strategy to improve both shareholder transparency
and accountability.
HIGHLIGHTS
- Enhanced Tools to Make Useful Information Available to
Investors
- Clear, Consistent and More Frequent Messaging About U.S. and
China Operations
- Increased Transparency from Management and Accountability to
Shareholders
PDN believes that several factors have combined
to impede the performance of its common stock price, preventing it
from better reflecting the Company’s growth potential. Among
other things, PDN believes that its common stock performance has
been the result of a lack of consistent, readily-understood
communications to investors, coupled more recently with investors’
general reluctance to invest in Chinese-led companies or companies
with extensive Chinese business lines.
To address these issues, the Company has
recently undertaken a comprehensive review of its common stock
performance vis a vis internal and market factors as well as its
previous corporate communication strategies in order to identify
opportunities for improvement. As a result, the Company has
recently:
- Retained a new investor relations representative to help
coordinate communications
- Begun crafting new corporate presentations
- Launched a new corporate website, available at
www.ipdnusa.com
- Initiated the build-out of an enhanced investor relations
portal
- Planned upcoming investor conference calls and shareholder
updates
- Calendared attendance and/or representation at selected
investor conferences
“Our mission,” said Jim Kirsch, PDN Executive
Co-Chair, “is not only to perform at a high level of operational
excellence, but to make sure that investors have the information
necessary to make the informed choice to invest in us. Recent
actions, including insider purchases by both myself and our CEO,
are indicative of a continuing confidence in our ability to build
sustainable shareholder value. While we believe our financial
results will ultimately speak for themselves, we are also keenly
aware of the importance of consistent and clear messaging,
providing our current and prospective investors with resources
which they can use to assess their investment in our Company.”
Chris Wesser, EVP & Corporate Secretary,
added, “While our distinct business lines in the U.S. and China
create multiple value propositions, we believe that there is room
for improvement in how we articulate and present our overall
business operations. The steps we are discussing today are
important and reflect our entire management team’s commitment to
continue building value for our shareholders while engaging the
marketplace in a compliant and transparent manner. Though we are
early in this process, preliminary results are encouraging. I look
forward to being able to announce our progress as we build out our
new corporate communications function.”
The Company previously announced its successful
entry in the Chinese market with respect to its international
education services division - through its new subsidiary AETSI,
Inc. - as well as its international professional training division
- through its Shared Economy Events. As preliminarily
reported in the Company's most recent 10-Q, it has already derived
revenue from its entry in the Chinese market.
About Professional Diversity Network (PDN)
Professional Diversity Network, Inc. (PDN) is a
global developer and operator of online and in-person networks that
provides access to networking, training, educational and employment
opportunities for diverse professionals. We operate subsidiaries in
the United States and China including National Association of
Professional Women (NAPW), which is one of the largest, most
recognized networking organizations of professional women in the
country, spanning more than 200 industries and professions; Noble
Voice, a career placement and career counseling call center; and
AETSI, Inc., our U.S.-based subsidiary through which we operate our
U.S.-China education operations. Through an online platform and our
relationship recruitment affinity groups, we provide our employer
clients a means to identify and acquire diverse talent and assist
them with their efforts to comply with the Equal Employment
Opportunity Office of Federal Contract Compliance Program. Our
mission is to utilize the collective strength of our affiliate
companies, members, partners and unique proprietary platform to be
the standard in business diversity recruiting, networking
and professional development for women, minorities, veterans, LGBT
and disabled persons globally.
Forward-Looking Statements
This press release contains certain
forward-looking statements based on our current expectations,
forecasts and assumptions that involve risks and uncertainties.
This release does not constitute an offer to sell or a solicitation
of offers to buy any securities of any entity. Forward-looking
statements in this release are based on information available to us
as of the date hereof. Our actual results may differ materially
from those stated or implied in such forward-looking statements,
due to risks and uncertainties associated with our business, which
include the risk factors disclosed in our most recently filed
Annual Report on Form 10-K and in our subsequent filings with the
Securities and Exchange Commission. Forward-looking statements
include statements regarding our expectations, beliefs, intentions
or strategies regarding the future and can be identified by
forward-looking words such as "anticipate," "believe," "could,"
"estimate," "expect," "intend," "may," “plan,” "should," and
"would" or similar words. We assume no obligation to update the
information included in this press release, whether as a result of
new information, future events or otherwise. Our most recently
filed Annual Report on Form 10-K, together with this press release
and the financial information contained herein, are available on
our website, www.prodivnet.com. Please click on "Investor
Relations."
CONTACT: Professional Diversity Network, Inc.
Chris Wesser – EVP and Secretary
cwesser@prodivnet.com
516-659-8560
Jim Kirsch – Executive Co-Chairman
jkirsch@prodivnet.com
312-614-9021
Jason Assad – Investor Relations
Jwassad@bellsouth.net
678-570-6791
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