TIPS has news today> TIPS AAAMALL.NET Rights Offering Shares to be Freely Tradeable
NEW YORK, Dec. 28 /PRNewswire/ -- Tianrong Internet Products and Services, Inc. (OTC Bulletin Board: TIPS - news) announced today that the shares issued in its AAAMALL.NET, INC. Rights Offering are to be freely tradeable. The Rights Offering will be pursuant to an exemption from registration provided by Regulation D, Rule 504 promulgated under the 1933 Securities Act, as amended.
TIPS intends to register this Rights Offering in a state whose law requires public filing and delivery of disclosure documents before the sale of securities in such state. In this manner, the Company will, after registration in such state, deliver disclosure documents to all of its shareholders of record (excluding affiliates and controlling shareholders which includes management) as of December 31, 1999, and therefore, offer them freely tradeable shares, provided that shareholders of the record date remain shareholders until such state registration is declared effective.
All TIPS shareholders as of record date of December 31, 1999 will receive one (1) right to purchase one (1) share of the common stock of AAAMALL.NET, Inc. for $0.05. Affiliates and controlling shareholders, which include management, shall not be eligible to participate in the Rights Offering.
Tianrong Internet Products and Services, Inc. is a U.S. holding company whose strategy is the acquisition of domestic and international Internet service providers and related companies.
James Tilton, President of TIPS, stated ''As our year and our century come to a close, I truly hope that all of our shareholders share my excitement and promise as we begin our march into the new Millennium. Though, in our opinion, it has been a good year, we would like all of our shareholders to accept the AAAMALL.NET shares as a belated Christmas Gift from us to you.''
Fore more information, contact investor relations at 800-324-3464 or visit tipsstock.com.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the ability of Tianrong Internet Products and Services to accomplish its stated plan of business. Tianrong Internet Products and Services believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Tianrong Internet Products and Services or any other person that the objectives and plans of Tianrong Internet Products and Services will be achieved.
SOURCE: Tianrong Internet Products and Services, Inc.
--------------------------------------------------------------------------------
More Quotes and News: Tianrong Internet Products & Services Inc (OTC BB:TIPS.OB - news)
Related News Categories: banking, computers, internet
|
