(BSNS WIRE) Diversified Resources Group, Inc. Clarifies Position on Reve
Diversified Resources Group, Inc. Clarifies Position on Reverse Stock Split
Business Editors
SARASOTA, Fla.--(BUSINESS WIRE)--Aug. 6, 1999--DRG, Inc., d/b/a
Diversified Resources Group, Inc., (NASDAQ OTC BB:DRGI), a Sarasota,
Florida based company, stated today that the Company's goal is to be
qualified for a NASDAQ National Market Systems (NMS) listing as soon
as possible. Presently, the company is in the process of filing its
Form 10 to become a fully reporting registrant. Another requirement to
become a NASDAQ NMS listed stock is a minimum bid price of $5 per
share. The company has already achieved several of the qualifications,
and is working diligently to meet all remaining qualifications.
The Company currently has no intention of reverse splitting its
stock until it has achieved the balance of the qualifications for
listing on NASDAQ's National Market Exchange. The Company's Board of
Directors and Senior Management believe that it is in the best
interest of the Company, its Stockholders and Investors to attain
NASDAQ listing as soon as possible. Therefore, the Company will
execute any authority granted to it by its shareholders to reverse
split the shares when, and if, the situation demands such action.
"We are very pleased with the Company's progress to date, and are
focused on the completion of our additional goals", stated Mr. O.
Howard Davidsmeyer, Chairman of the Board of DRGI.
This press release shall not constitute an offer to sell
securities under an exemption from registration pursuant to Regulation
D, Rule 504 of the Securities and Exchange Commission. Statements
regarding the company's expectations about new and exciting products,
future financial performance and other forward looking statements are
subject to various risks and uncertainties, including, without
limitation, demand and acceptance of new and exciting products,
technological advances and product obsolescence, competitive factors
and the availability of capital to finance growth.
Log on to www.diversified-resources.com
--30--cp/mi*
CONTACT: Diversified Resources Group, Inc., Sarasota
Carl Smith, III, 941/923-1949
www.diversified-resources.com
KEYWORD: FLORIDA
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS REAL ESTATE
BIOTECHNOLOGY
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