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DPCI |
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DP Charters Inc. Announces Share Cancellation
CAPISTRANO BEACH, Calif.--(BUSINESS WIRE)--Nov. 20, 2000--DP Charters Inc. (OTC BB:DPCI - news) Monday announced that it has cancelled 19.99 million shares of its outstanding common stock.
The company currently has approximately 27 million shares issued and outstanding. The cancellation of these common stock shares was executed in order to attract a quality acquisition/merger candidate and to insure an appropriate capitalization and subsequent valuation. DP Charters believes that the cancellation of these shares is in the best interests of its existing shareholders.
DP Charters is in the process of performing due diligence on a candidate for acquisition. Once the company has satisfied its due diligence, an acquisition announcement will be made.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in DP Charters Inc.'s filings with the Securities and Exchange Commission.
This news release includes forward-looking statements that involve risks and uncertainties. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including without limitation the company's ability to produce and market products and/or services and other risks detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
CONTACT:
Mark Zouvas, 817/312-2800
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