Macada Holding, Inc. Announces It Is Canceling 58 Million Preferred Shares
February 09 2010 - 9:58AM
Marketwired
Macada Holding, Inc. (PINKSHEETS: MCDA) announced that Anthony
Mellone is canceling 30,000,000 of his preferred shares, Donna
Yamin is canceling 3,000,000 of her preferred shares, and Antonio
Mellone SR. is canceling 25,000,000 of his preferred shares back
into the treasury. The legend on the preferred share convert 1 to 1
common and has a 1 for 20 voting right.
Management has been under negotiations for 4 weeks now with our
subsidiary for the Emergency Response Hospital Unit to be shipped
to Haiti. We have been working on this since the second day after
the earthquake hit. The company has been filing all the legal
documents and we have been reinstating our non profit corporation
so we can be granted approval to send donations to Haiti. Most
people may think it's too late, but the response we have received
is great. Doctors in Haiti are in great need and a major demand for
products and medicine supplies as well as generators, batteries,
health products. Go to our site www.911worldrelief.com and help if
you can.
Our new deal with the company we are planning to go onto the
OTCBB should close next week. All Macada Holding shareholders will
receive a pro rata dividend of the new parent Bulletin Board
Company while retaining their Macada Holding shares. As of today's
date, the company's share structure is still and will remain the
same.
The companies' intentions are to move all the medical divisions
into the OTCBB company.
Management stated that more information will be released
subsequent to closing.
Safe Harbor Provision
This news release includes forward-looking statements, including
with respect to the future level of business for the parties. These
statements are necessarily subject to risk and uncertainty. Actual
results could differ materially from those projected in these
forward-looking statements as a result of certain risk factors that
could cause results to differ materially from estimated results.
Management cautions that all statements as to future results of
operations are necessarily subject to risks, uncertainties and
events that may be beyond the control of Macada Holding, Inc. and
no assurance can be given that such results will be achieved.
Potential risks and uncertainties include, but are not limited to,
the ability to procure, properly price, retain and successfully
complete projects, the availability of technical personnel, changes
in technology and competition.
Contact: Steven Cohen 954-772-2640
KMA (CE) (USOTC:MCDA)
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