Category: Baystreet Newswire
Company: Dakshidin Corporation
Date: Friday, June 06, 2014
Las Vegas, NV / ACCESSWIRE / June 6, 2014 / Dakshidin Corporation (Pink Sheets: DKSC) announced today that it has cancelled plans to reverse the outstanding amount of shares as previously announced in two news releases dated April 22nd and 23rd of 2014.
After taking time to process the response of our shareholders to the aforementioned news, the Corporation began a series of lengthy negotiations with The Tyburn Group who as reported had insisted on the rollback as as part of any agreement with Dakshidin.
After weighing the pros and cons, and, taking into account the general sentiment of many of Dakshidin shareholders, both companies have agreed to forgo the roll back as planned in the interest of moving forward. As previously announced, the company still plans to go ahead with seeking majority shareholder approval for the increase in authorized shares in order to facilitate further acquisitions, IR efforts and to allow the company to attract capital.
The two companies are working diligently on closing an agreement that would result in the announcement of the first acquisition and could be announced in the next week or two.
more to follow soon...
Forward-Looking Statements: The information in this press release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.
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Source: Dakshidin Corporation