UTTD news:
(BSNS WIRE) United Trading.com Board of Directors Approve a Three for One S
United Trading.com Board of Directors Approve a Three for One Split Effective
October 10, 2000
Business Editors
IRVINE, Calif.--(BUSINESS WIRE)--Sept. 28, 2000--United
Trading.com (OTCBB:UTTD) is pleased to announce a three for one
forward split of its common stock with an effective date of October
10, 2000. Shareholders of record as of October 6, 2000 will be
entitled to participate in the split.
Company President, Norman Wright, reports, "We believe that
strategically, this is the correct time for the forward split. Our
Company has already announced profits in excess of $1,000,000 on its
sales of software licenses in the Third Quarter of 2000, and
projections of revenues and earnings for the year 2000, and calendar
year 2001. The decision to have the forward stock split is intended to
maximize shareholder value."
In connection with the forward split, all holders of outstanding
certificates must exchange them for new certificates by October 10,
2000 pursuant to order of the Board of Directors acting in accordance
with Nevada Revised Statutes. Outstanding certificates must be
forwarded to the Company's transfer agent to reach the transfer agent
not later than October 10, 2000. The Transfer agent's address and
phone number are:
Interstate Transfer Company
874 East, 5900 South, Suite 101
Salt Lake City, UT 84107
Phone number 801-281-9746
If new certificates are to be issued in the same name, no
signature is required on the reverse side of the certificate, however,
shareholders should confirm the address to which the new certificates
should be mailed. If new certificates are to be issued in a name
different from that shown on the old certificate, the old certificate
must be endorsed together with a Medallion signature guarantee. Shares
currently held in street names, or on deposit with brokerage firms
should be able to be exchanged by the respective brokers without
action by shareholders.
The cost of the new certificates will be borne by the Company. In
accordance with Nevada Revised Statutes, the order of the Board of
Directors further provides that holders of any certificate so ordered
to be surrendered and not received by the Transfer Agent on or before
the Exchange Date of October 10, 2000 are not entitled to vote or to
receive distributions or exercise any of the other rights of
shareholders of record until they have complied with the order.
Beginning, October, 10, the new shares represented by the new
certificates will begin being traded under the new stock symbol UTDT,
and as of that date existing shares represented by certificates not
surrendered for exchange will no longer be traded over the Over The
Counter Bulletin Board Market.
The company is engaged in development and sales of non-exclusive
licenses for proprietary state-of-the-art software for Internet gaming
sites, and in international business-to-business e-commerce. Estimates
for the Internet gaming market by Bear Stearns and others are in
excess of $10 billion annually for the year 2002. The total
international business-to-business electronic commerce market was
estimated by International Data Corporation to be approximately $500
billion in 1999 growing to over $2 trillion in the year 2003.
The Company is focusing on high profit potential market niches
with physical presence in Costa Rica (American portal), Cook Islands
(Asia portal) and Liechtenstein (Europe, Middle East & Africa portal).
To learn more about United Trading.com see
506funding.com or contact Summa Capital at
877/370-4318 or bethh@summacapitalinc.com.
This statement includes projections of future results and
"forward-looking statements" as that term is defined in Section 27A of
the Securities Act of 1933 as amended (the "Securities act"), and
Section 21E of the Securities Exchange Act of 1934 as amended (the
"Exchange Act"). All statements that are included in this release,
other than statements of historical fact, are forward-looking
statements. Although Management believes that the expectations
reflected in these forward-looking statements are reasonable, it can
give no assurance that such expectations will prove to have been
correct. Important factors that could cause actual results to differ
materially from the expectations are disclosed in this Statement,
including, without limitation, in conjunction with those
forward-looking statements contained in this Statement. The Company
disclaims any obligation to update forward-looking statements.
--30--el/sf* mi/sf
CONTACT: Summa Capital
David Berkowitz, 877/370-4318
KEYWORD: CALIFORNIA UTAH NEVADA INTERNATIONAL ASIA PACIFIC LATIN
AMERICA EUROPE AFRICA/MIDDLE EAST
INDUSTRY KEYWORD: ENTERTAINMENT GAMING INTERNET SOFTWARE
E-COMMERCE ELECTRONIC GAMES/MULTIMEDIA
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