Syndication Inc. Board to Vote on a $1Mill 20% Stake Sale of SRE S.C.; CEO Asks Board to Declare a 5% Dividend of Common Combine
14 9월 2010 - 1:13PM
Syndication Inc., (Pink Sheets:SYNJ), announced that the Board of
Directors agreed to vote on the sale terms of approximately 20% of
Sentinel Renewable Energy S.C., (SRE S.C.). SRE S.C., a subsidiary
of Syndication Inc. is the Company's bio-diesel manufacturing
project located in South Carolina. Until the Board votes to approve
the sale, the company can not release the exact terms of the
transaction but, the broad strokes of the agreement include an
exchange of 18% to 30% interest in SRE S.C. for an estimated
payment of approximately $1 million dollars, a contractual
agreement granting the purchasers oversight of their $1 million
investment, 2 (two), consulting arrangements, (one for market
development and the other for plant engineering management), and a
10% common stock dividend of the purchasing company to be paid to
the shareholders of Syndication Inc. The CEO of Syndication asked
the BOD to approve an additional 2% to 5% common stock dividend of
Syndication's stock to be paid in conjunction with the settlement
of the % sale of SRE S.C. "For some time now we have been
approached by a number of suitors that have wanted to invest in our
SRE S.C. project. We now have an official offer from a public
company for Board consideration. This occurrence coupled with
recent changes within the internal make up of our company have
compelled the Board to move forward and exploit these
opportunities," said the CEO of Syndication Inc.
The Company stated further that the consulting arrangement is
uniquely ingenious to SRE S.C. because, the CEO of the suitor
Company, after working with relationships related to Cairo, Egypt
through 2004, where he excelled in his career as a specialist in
"International Corporate Development," was well established as a
leader in plant engineering for both the U.S. Navy and NASA's
energy plant operations. "Aside from the $1 million dollar capital
investment, a fantastic and exciting ancillary byproduct of the
union is that SRE S.C. will inherent the management oversight and
expertise required to build and operate our bio-diesel plant in
South Carolina," said the CEO of Syndication Inc.
For its shareholders, the Company further noted that, "the
distribution of a 3rd party dividend on a specifically designated
asset of a Public Company is a uniquely gymnastic legal
maneuver. After consultations with the transfer agents of each
company, I will then make a recommendation to the Board on a
practical execution of a dividend distribution strategy. I expect
to recommend a dividend declaration date within the next 2 weeks.
This is both a difficult and unique act. I also recognize that the
dividend policy for a Company at this development stage is
problematic to market makers holding short positions in our stock.
I feel sure that this dividend issuance will cause real attention
demands but, should that be my concern? I will not deny dividends
to our shareholders because, the ability of market makers trading
our stock for the purpose of self profit, becomes complicated,"
said the CEO, of Syndication Inc.
The Board remains resolute to the execution of our business plan
and the belief in our future. We believe that the dividends play an
important role in the development of our stock valuation. In our
opinion, they will become valuable both monetarily and as a
recognized function of our Company culture. The pursuit of the
alternative energy market is still in its embryonic stage and South
Carolina is one of its frontiers. The State is poor and starving
for corporate capital investment. We are cash rich and making
accommodations to accept an additional million dollar investment.
South Carolina is aggressively courting Syndication/SRE S.C. as a
player in their business community. We are using their economic
dearth as leverage to convert our business plan from chalk board to
practical application. An interesting revelation fostered by the
task is that it can be done much cheaper than originally
anticipated and the opportunity for profits is far greater the
originally anticipated. Over the next couple of days the Company
expects to release details on the warehouse purchase, legal issues
related to the $5 million dollar loan escrow, both dividends and
the identity and final terms on the Company purchasing the stake of
SRE S.C. News pending.
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.
CONTACT: Syndication Inc.
Brian Sorrentino
888-422-5515
Box 503
Damascus, MD 20872
Day Tradexchange (CE) (USOTC:SYNJ)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Day Tradexchange (CE) (USOTC:SYNJ)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024