SYNJ Day Tradexchange Inc (CE)

Syndication Inc. (Pink Sheets:SYNJ) reports that McCutcheon Marshall Jr., President and Chairman of the Board, 20% owner and principal architect of our Sentinel Renewable Energies S.C. (SRE.S.C. Inc.), bio-diesel manufacturing project, notified Syndication Inc., the Parent Company, that he wants to renegotiate the terms of his employment contract. The Board's of Syndication Inc. and SRE S.C. authorized the CEO, Brian Sorrentino to consider the terms of Mr. Marshall's proposal in an effort to craft a final employment arrangement. Mr. Marshall Jr. started with the Company under the terms of his original employment agreement executed on May 19th, 2009 and has been the point man on the development of our bio-diesel manufacturing facility in South Carolina for SRE S.C. His office has been principally responsible for the overall development activities, time lines, strategies and key contract negotiations for SRE S.C., including introducing the company to Peter Katzburg whom under his watch, ultimately became the CFO for the project.

On Friday the 2nd of July a court of competent jurisdiction granted the Company's request to freeze an escrow account holding $592,000 of the Company's money that was to be used for interest expenses and various closing fees associated to a $5 million credit instrument.  The $5 million financing package was brought to the Company by Peter Katzburg, the CFO. He recommended, signed and promoted the arrangement to the Board of Directors. The international banking arrangement is being issued by HSBC Bank, London. Mr. Katzburg was solely responsible for personally endorsing, developing and aggressively encouraging the Board of Directors to agree to the transaction. Later understanding of the transaction and for reasons related to the differences of interpretation on terms and functionality, the Company filed a request with the court to freeze the escrow account until such issues are decided by the court. It is the position of the Board that the decision of the Judge to grant our request is a testament to the legitimacy of our claims. It is the position of the Board that these issues should find a resolution in due time.     

This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products, which we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.

New Contact Information; Syndication Inc, Brian Sorrentino Phone # 888-422-5515 

For all mail correspondence; Box 503, Damascus, MD 20872

 

CONTACT:  Syndication Inc.
          Brian Sorrentino 
          888-422-5515