To Jeffery and ALL - News out - Letter to stockholders.
I am pretty unsure wether its time to buy in again now - Any opinions.
Br
Jens T.
Below the PRNewswire copyed in:
Thursday October 16 2:00 PM EDT
Company Press Release
Dawson Science Distributes Letter to Shareholders
NEW YORK, Oct. 16 /PRNewswire/ -- The following is a letter issued by Dawson Science Corp. (OTC Bulletin Board: DWSC) to its shareholders:
October 14, 1997
Dear Shareholder:
It is my sincere pleasure, as President and Chief Executive Officer of
Dawson Science Corp., to take this opportunity to introduce myself to you
and to provide you with a summary of what our Company has accomplished
since I arrived at Dawson in March, 1997.
As announced in April, Dawson acquired 100% of the shares of Shenzhen City
Zhenghua Traffic and Transportation Main Group Company, Ltd., which
currently operates over 1,200 taxicabs and trucks in the People's Republic
of China. The Company's exciting expansion into the car rental industry
in China, which has immense growth potential, will require substantial
capital. We believe that becoming a U.S. public company on a listed
exchange will allow us to raise the funds in the capital markets to become
the largest independent transportation company in China.
I believe that with the help of strategic partners we have met in the
U.S., Dawson will be able to achieve that goal. We have retained Redstone
Capital Corp. of New York City as our investment bankers. We are now
laying the groundwork to file our Form 10 with the Securities and Exchange
Commission, which will make the Company a reporting company under U.S.
securities laws.
Dawson has retained the international accounting firm of BDO Binder to
complete the Company's audits in China and in the U.S. for the Form 10
filing in compliance with U.S. securities laws. The previously contracted
Price Waterhouse accounting was not made fully to comply for SEC purposes.
Additionally, we have hired Proskauer, Rose, LLP, a large international
law firm based in New York who have experience in recently bringing
another Chinese operations-based company to the U.S. public equities
market. Proskauer, Rose, with their greater international experience, has
replaced our former attorneys, Reid & Priest.
Counsel has advised that we not announce corporate news events until the
Form 10 registration statement is filed with the U.S. Securities and
Exchange Commission. At that time, our Company will be able to give
complete disclosure about Dawson, including many of the positive things
that have occurred in China since our last release in August. Ludgate
Communications is handling our investor relations both in New York and in
Hong Kong, and a fact book and other information for distribution is
already in progress.
The success of any company can, in many ways, be attributed to the
support, loyalty and encouragement it receives from its most important
ally, its shareholder. I thank you in advance for your continued support.
Your faith in our efforts will be rewarded.
Sincerely, for Dawson Science Corp. -- USA:
Wu Zhi Jian Liya Adams
President & Chief Executive Officer Secretary
SOURCE Dawson Science Corp. |
