UTTD 3-1 forward split.
United Trading.com Board of Directors Approve a Three for One Split Effective October 10, 2000
Ticker Last Change
UTTD $1.44 $-0.03
Quotes 20 min delay.
Thursday September 28 9:10am
Source: BusinessWire
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.
Interstate Transfer Company
874 East, 5900 South, Suite 101
Salt Lake City, UT 84107
Phone number 801-281-9746
Contact: Summa Capital
David Berkowitz, 877/370-4318 |
