SOURCE: Triton Distribution Systems, Inc.
TIBURON, CA–(Marketwire – October 25, 2010) – Triton’s (
It is definitely a fact that on October 15, 2010 the Company through Action Stock Transfer Corporation, its Transfer Agent, completed the retiring of 43,817,855,923 Common Shares or 99% of the 44,007,866,636 issued and outstanding shares of the Company. At the time of this corporate action by the Company the Market Capitalization was $ 0.0001 per share.
Following this action the Company’s present Market Capitalization is as follows:
TOTAL OUTSTANDING SHARES AFTER THE EXCHANGE: 190,010,173 of these 100,000,000 shares are owned by insider Shareholders, Management and employees, making the current public float 90,010,173 free trading shares. Absolutely and categorically no new shares have been issued. Subsequent to the above mentioned Capitalization the present market price of $ 0.0001 per share does not reflect the Company’s Market Capitalization just prior to the reduction in common shares and is not suitable. So based on the present Capitalization the market price should be higher.
All Shareholders were advised of the actual facts of the corporate action via an extensive mailing and the Transfer Agent was and is available to answer all questions regarding the Company’s activities.
“Shareholders and the Market should be confident that we executed the Corporate Action to Buyback 99% of the Common Shares as dictated by law. Our priority is to strengthen the Company and make it ready to accept new Financing and additional Shareholders,” said Gregory Lykiardopoulos, Chairman and CEO of Triton Distribution Systems, Inc.
About Triton Distribution Systems: Triton Distribution Systems is a pioneer in low-cost, business-to-business, Internet-based travel distribution and procurement solutions. Triton provides the electronic distribution of travel inventory from airlines, car rental companies, hotels, tour and cruise operators, and other travel vendors to travel agencies and their clients on a global basis. Triton’s proprietary products and services fill crucial needs in the travel industry, and offer product, pricing, and marketing advantages.
FORWARD-LOOKING STATEMENTS This news release includes forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company’s progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management’s opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company’s operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are set forth in the company’s periodic filings with the U.S. Securities and Exchange Commission.
Triton Distribution Systems, Inc.