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BUT.....others here will have you believe it's a "short squeeze".....who will be right?????
What the CEO of this company has his hands on !!!! As he adds to the "float"...as in yo money !!!! IMO
True........But......it's MOASS time !!!!heh heh
Already signed up for those games !!!Nah, will wait for the .0002 and then go short !!!!
Your Blood !!!! LOL !!!!
Nah Mr Mango....never claimed a thing, just posted the past history and we shall see who has that "last laugh" !!!!!
Da Dump............is on !!!! Yep, suck up those shares boys !!!! Too funny !!!
Ameritrade has .08 x.09
Zero difference !!!And soon you will see something like this in your account history:
06/25/2010 11:16:29 MANDATORY REVERSE SPLIT (TTDZD) 0.00 ---
06/25/2010 11:16:29 MANDATORY REVERSE SPLIT (TTDZ) 0.00
Like a thief in the dead of night....poof they are gone !!!!
And why??? Because our CEO cares about his shareholders....as he so clearly states..."The Company to reduce the number of shares issued and outstanding to avoid a reverse split since reverse splits generally are damaging to shareholder's value"!!!! Too funny !!!!
Well when one still believes in the "tooth fairy"...anything is possible !!!! LOL
Yep you got that right...as in this CEO most certainly got M O A S S as in $$$$ from the unsuspecting "new" bagholders !!!!WELCOME to...That hotel you can easily get into.....and soon.....never able to leave.......on your terms !!!!! Actually, you will be, AFTER that 101 to 1 "Buyback" !!!!!
I wonder what the difference is ???? Earth to Shareholders !!!!!
Triton (PINKSHEETS: TTDZ) announced today that it was determined and agreed by the Board of Directors and the Controlling Shareholders to issue a resolution allowing the Corporation
to buyback 99 percent of the issued and outstanding shares of the Company effective October 1, 2010 under the following conditions:
The Company shall buyback 99 percent of the issued and outstanding shares of the Company by the Company in exchange for a convertible debenture paying each shareholder $0.0001 per share, and having a maturity date of 5 years with 10% interest per share annually.
This Buyback is a mandatory corporate action requiring that all outstanding shares be exchanged, wherein, for each 101 shares held, those shares will be surrendered to the company's transfer agent in exchange for 1 new common share and a note. All shares must be surrendered to the transfer agent by October 30, 2010.
From the AMENDED AND RESTATED ARTICLES OF INCORPORATION
TRITON DISTRIBUTION SYSTEMS, INC. below !!!
The Corporation’s Board of Directors and Controlling shareholders have agreed on this 30th day of April 2010 that the Company will buyback 99 percent of the issued and outstanding shares of the Company effective June 1, 2010 under the following terms and conditions:
The Company shall buyback 99 percent of the issued and outstanding shares of the Company by the Company in exchange for a convertible debenture paying each shareholder $ 0.01 per share in face value convertible debentures, and having a maturity date of 5 years without interest and convertible after 1 year into common shares at the rate of $ 1 per share.
This Buyback is a mandatory corporate action requiring that all outstanding shares be exchanged, wherein, for each 101 shares held, those shares will be surrendered to the company’s transfer agent in exchange for 1 new common share and a note for $1.
Ah just make it easier to read !!!
AMENDED AND RESTATED ARTICLES OF INCORPORATION
TRITON DISTRIBUTION SYSTEMS, INC.
Page 1 of 2
ARTICLE I
NAME OF COMPANY
The name of the corporation is Triton Distribution Systems, Inc.
ARTICLE II
PERIOD OF DURATION
The corporation shall exist in perpetuity, from and after the date of filing the Certificate of Incorporation with the Secretary of State of the State of Colorado unless dissolved according to law.
ARTICLE III
PURPOSES AND POWERS
1. Purposes. Except as restricted by the Certificate of Incorporation, the corporation is organized for the purpose of transacting all lawful acts or activities for which corporations may be organized under the Corporation Code of Colorado.
2. General Powers. Except as restricted by the Certificate of Incorporation, the corporation may exercise all powers which a corporation may exercise legally pursuant to the Colorado Corporation Code.
ARTICLE IV
BUYBACK SHARES
1. The Corporation’s Board of Directors and Controlling shareholders have agreed on this 30th day of April 2010 that the Company will buyback 99 percent of the issued and outstanding shares of the Company effective June 1, 2010 under the following terms and conditions:
The Company shall buyback 99 percent of the issued and outstanding shares of the Company by the Company in exchange for a convertible debenture paying each shareholder $ 0.01 per share in face value convertible debentures, and having a maturity date of 5 years without interest and convertible after 1 year into common shares at the rate of $ 1 per share.
The Company to reduce the number of shares issued and outstanding to avoid a reverse split since reverse splits generally are damaging to shareholders’ value, and it is difficult for shares to be bought and sold in sub penny stocks. This Buyback is a mandatory corporate action requiring that all outstanding shares be exchanged, wherein, for each 101 shares held, those shares will be surrendered to the company’s transfer agent in exchange for 1 new common share and a note for $1. There will be no fractional shares, so that every shareholder will be rounded up to a minimum of a note of $1 and 1 whole share and any fractional shares will be rounded up to 1 whole share.
Shareholders are being notified of this buyback.2. Dividends. Dividends in cash, property or shares of the corporation may be paid upon the Common Stock, as and when declared by the Board of Directors, out of funds of the corporation to the extent and in the manner permitted by law.
3. Distribution in Liquidation. Upon any liquidation, dissolution or winding up of the corporation, and after paying or adequately providing for the payment of all its obligations, the remainder of the assets of the corporation shall be distributed, either in cash or in kind.
4. Voting Rights; Cumulative Voting. Each outstanding share of Common Stock shall be entitled to one vote and each fractional share of Common Stock shall be entitled to a corresponding fractional vote on each matter submitted to a vote of shareholders. Cumulative voting shall not be allowed in the election of directors of the corporation. When, with regard to any action to be taken by the shareholders of this corporation, the Colorado
AMENDED AND RESTATED ARTICLES OF INCORPORATION
TRITON DISTRIBUTION SYSTEMS, INC.
Page 2 of 2
Corporation Code requires the vote or concurrence of the holders of two-thirds of the outstanding shares, such
action may be taken by the vote or concurrence of a majority of such shares or class thereof.
5. Denial of Preemptive Rights. No holder of any shares of the corporation, whether now or hereafter authorized,
shall have any preemptive or preferential right to acquire any shares or securities of the corporation, including
shares or securities held in the treasury of the corporation.
ARTICLE V
AMENDMENTS
The corporation reserves the right to amend its Certificate of Incorporation from time to time in accordance with the Colorado
Corporation Code of Colorado.
ARTICLE VI
ADOPTION AND AMENDMENT OF BYLAWS
The Bylaws of Triton Distribution Systems, Inc, a Nevada Corporation, are adopted by the Board of Directors for Triton
Distribution Systems, Inc., a Colorado Corporation. The power to alter or amend or repeal the Bylaws or adopt new Bylaws shall
be vested in the Board of Directors, but the holders of common stock may also alter, amend or repeal the Bylaws or adopt new
Bylaws. The Bylaws may contain any provisions for the regulation and management of the affairs of the corporation unless
inconsistent with law or Articles of Incorporation.
ARTICLE VII
REGISTERED OFFICE AND REGISTERED AGENT
The address of the registered office of the corporation is 105 Barbaree Way, Tiburon, CA 94920, and the name of the registered
agent of the Corporation is National Registered Agents, Inc., and the address of the registered agent is 1535 Grant Street, Suite
140, Denver, CO 80203 The registered office and registered agent may be changed in the manner provided by the Colorado
Corporation Code.
TRITON DISTRIBUTION SYSTEMS, INC
By:
President, Gregory E. Lykiardopoulos
By:
Secretary, Gregory E. Lykiardopoulos
Date: April 30, 2010
It most certainly did and it is quite interesting how it was done then, not with a PR like you have seen this past month but through this with the State of Colorado and TTDZ AMENDED AND RESTATED ARTICLES OF INCORPORATION All I can say it good luck to the current "bagholders" oop's I mean shareholders !!!! Ever wonder why your great and wonderful CEO did the R/S that way vs what is about to happen now???? And as always.....IMO !!!!
www.sos.state.co.us/biz/ViewImageAttachment.do?fileId=20101249550&attachment=1&attachLoc=
Ooops missed it by a day....my bad !!!!! Well for your sake and others I hope your right, but I doubt it. I really expect to see my ownership of TTDZ stock to be at 7 shares within the next few weeks, down from the 750 I have at the moment from the last share reduction that wasn't a R/S !!! Per the CEO....."The Company to reduce the number of shares issued and outstanding to avoid a reverse split since reverse splits generally are damaging to shareholders’ value, and it is difficult for shares to be bought and sold in sub penny stocks"
http://www.otcbb.com/asp/dailylist_detail.asp?d=6/1/10&mkt_ctg=NON-OTCBB
Well it's not here either , yet it happened and on the 25th of June it was done in my account !!!!
Well Ameritrade showed it as a "mandatory reverse split" in my account on June 25th. And when you read this, tell me what is different this time , other then the wording !!!
The Corporation’s Board of Directors and Controlling shareholders have agreed on this 30th day of April 2010 that the Company will buyback 99 percent of the issued and outstanding shares of the Company effective June 1, 2010 under the following terms and conditions:
The Company shall buyback 99 percent of the issued and outstanding shares of the Company by the Company in exchange for a convertible debenture paying each shareholder $ 0.01 per share in face value convertible debentures, and having a maturity date of 5 years without interest and convertible after 1 year into common shares at the rate of $ 1 per share.
The Company to reduce the number of shares issued and outstanding to avoid a reverse split since reverse splits generally are damaging to shareholders’ value, and it is difficult for shares to be bought and sold in sub penny stocks. This Buyback is a mandatory corporate action requiring that all outstanding shares be exchanged, wherein, for each 101 shares held, those shares will be surrendered to the company’s transfer agent in exchange for 1 new common share and a note for $1. There will be no fractional shares, so that every shareholder will be rounded up to a minimum of a note of $1 and 1 whole share and any fractional shares will be rounded up to 1 whole share.
My bet...different story presented but same result as before !!!!
Oh Just an FYI for you and "others".....just look at the trading history from the last non reverse split back in June and you will see what you can expect in the weeks to come !!!!!
Great call !!!!! Board mark for you !!!!!
Interesting reading !!!!
Triton Distribution Systems Inc (PINK:TTDZ, TTDZ message board) stock woke up from the dead-like condition after the CEO said he will retire 99.7% of his own shares, with no cost for the company. This action showed the management's commitment to the earlier announced plans to reduce the issued and outstanding stock by 99% through a buyback program.
Since the company doesn't have any cash for such a deed, they will offer a minimum possible price of $0.0001 per share, and issue convertible debentures which promise the payment in 5 years, and bear 10% interest.
While this looks good for the shareholders, the question is whether the entity will still be around after a 5 year period. The company has been using their stock to cover the operating costs and pay for acquisitions, latest of which happened in September 2009. If they wouldn't use equity sales to raise funds, the company would not exist by now.
The business activities of Triton are limited. Their second quarter report, for period ending June, 2010, shows no cash and a huge leverage - $1.6 million in assets versus $12.7million in liabilities. No revenues, recurring losses and constant issuing of new shares are also alerting. Even if they buy back most of the outstanding stock, it still remains questionable whether the company can survive in such a bad financial position.
The nature of the ongoing stock trades is not clear. Acquiring the stock right now looks meaningless, as investors would just be freezing their funds for 5 years. Price appreciation is not happening as well, only some volatile bursts were recorded, which also provides little profit opportunities for day traders.
Just stay "focused" on this !!!!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=55935547
Dead in the Water !!!! All over and that sucks !!!!
http://www.donlinrecano.com/dockets/multidockets/penn3/09-14078/1506
FYI and I do believe the “Good Guys” (us) got no-hit in this, unless I’m missing something !!! This is the result of the hearing today and the Agenda Items and the result. There are a ton of “Related Pleadings” associated with many of Agenda Items which can be found in the Dockets. Plus, anyone know if an “Order Signed” means the end of arguing the Agenda Item or am I thinking wishfully, that there is more to it??? Thoughts????
1. Notice Of Debtors’ Intent to Assume And Assign Certain Leases And Executory
Contracts And Fixing Of Cure Amounts (D.I. 337, Filed 1/11/10).
#1 - Adjourned to 11/18/10 @ 9:30 a.m.
2. Motion For Payment Of Administrative Expenses Relating To Employee Benefit
Contributions (D.I. 1204, Filed 7/9/10).
#2 - Adjourned to 11/18/10 @ 9:30 a.m.
3. Debtors’ Motion For An Order Approving The Compromise Of A Controversy By And
Among The Debtors And D & B Marketing, Inc. (D.I. 1401, Filed 10/1/10).
#3 - Revised order signed
4. Second Amended Consolidated Chapter 11 Plan Of The Debtors (D.I. 1364, Filed
9/14/10).
#4 - Order signed Confirming the Third Amended Consolidated Plan
5. Debtors’ First Omnibus Objection (Non-Substantive) To Certain Claims Pursuant To
Section 502 Of The Bankruptcy Code And Rule 3007 Of The Federal Rules Of
Bankruptcy Procedure (Amended; Duplicate; Late File Claims) (D.I. 1382, Filed
9/17/10).
#5 - Revised Order signed
6. Debtors’ Second Omnibus Objection (Substantive) To Certain Claims Pursuant To 11
U.S.C. § 502, Fed. R. Bankr. P. 3007 And Del. L.R. 3007-1 (Redundant Claims) (D.I.
1395, Filed 9/27/10).
#6 - Revised Order signed
7. Debtors’ Motion For An Order Approving A Compromise Of A Controversy Regarding
Claims Filed By The Pension Benefit Guaranty Corporation (D.I. 1397, Filed 9/30/10).
#7 - Order signed
8. Debtors’ Motion For Entry Of An Order (i) Approving The Stipulation By And Between
The Penn Traffic Company And The Penn Traffic Company 401(k) Savings Plan
Resolving And Settling Claims Related To The Penn Traffic Company 401(k) Savings
Plan, (ii) Deeming All Claims Relating To Penn Traffic 401(k) Plan Fully Satisfied And
(iii) Granting Related Relief. (D.I. 1419, Filed 10/6/10).
#8 - Adjourned to 11/18/10 @ 9:30 a.m.
9. Debtors’ Motion For An Order (I) Approving A Settlement Agreement By And Between
The Debtors, The New York State Teamsters Conference Pension And Retirement Fund
And The New York State Teamsters Council Health And Hospital Fund And (II)
Granting Related Relief (D.I. 1483, Filed 10/21/10).
#9 - Order signed
Wish I did, no I don't !!!! LOL If I'm reading this correctly it looks to me as though some kind of settlement has been reached between PT and Pension Benefit Guaranty Corporation. If so, I don't think that is "a good thing" for the shareholders.But I don't really know....just my best guess after trying to understand the dockets posted today.
What we need is a Fourth Amended Consolidated Chapter 11 Plan !!!! That says Equity is in Da Money !!!!! Reading this Docket S#@T makes one destroy brain cells !!!!! LOL !!!!
Well that sure says alot for this board doesn't it ???
Have we already heard something with the voting per Docket #1499? Acceptance has blown away rejection of The Plan based on this Docket #
http://www.donlinrecano.com/Dockets/penn3/09-14078
Or are there objections that still need to be heard today before any kind of final decision?
A look into the future ??? Once the 101 for 1 happens just as it did back in June....History WILL repeat itself !!!!!Take it what what its worth !!!
http://ih.advfn.com/p.php?pid=historical&symbol=TTDZ
Yep and I'll be down to 7 shares at what.... .0001 !!! Then I'll really be LMAO !!!!!
You will be dead and buried by that time !!!!! LMAO !!! BUT, good lucky with that anyway !!!
Nah this is the most important one.....yours is simply Round 2 !!!
The Corporation’s Board of Directors and Controlling shareholders have agreed on this 30th day of April 2010 that the Company will buyback 99 percent of the issued and outstanding shares of the Company effective June 1, 2010 under the following terms and conditions:
The Company shall buyback 99 percent of the issued and outstanding shares of the Company by the Company in exchange for a convertible debenture paying each shareholder $ 0.01 per share in face value convertible debentures, and having a maturity date of 5 years without interest and convertible after 1 year into common shares at the rate of $ 1 per share.
The Company to reduce the number of shares issued and outstanding to avoid a reverse split since reverse splits generally are damaging to shareholders’ value, and it is difficult for shares to be bought and sold in sub penny stocks. This Buyback is a mandatory corporate action requiring that all outstanding shares be exchanged, wherein, for each 101 shares held, those shares will be surrendered to the company’s transfer agent in exchange for 1 new common share and a note for $1. There will be no fractional shares, so that every shareholder will be rounded up to a minimum of a note of $1 and 1 whole share and any fractional shares will be rounded up to 1 whole share.
Not yet....one of The Boy's hit the Ladies Room and found a ton of it !!!!!!
Perhaps all the complaints to the SEC finally got someones attention !!!!
Lets not forget this post !!!!
"JUST GOT WORD THAT THE CEO WILL BE ANNOUNCING MAJOR NEWS WITHIN THE NEXT 48 HRS...I CALLED THE LAST 2 PRS....CHECK MY HISTORY....LOAD UP PEOPLE, THIS WILL BE 0.001 BY FRIDAY..LOAD UP.....THE 0.0002 WILL BE THE BUY OF A LIFETIME"
My bet....he will be out of the country by Monday !!!!! Any takers???? heh heh
Plus...........It's now "power hour"....time to "load the Boat" !!!! ROTFLMAO !!!!!
Nah....it's cellar boxing....between the CEO and his better half in the basement....."To dump or not to dump" !!!! Guess who's winning !!!!! heh heh
LOL.............and the CEO is in the lead truck !!!!!
Wow...This is starting to look like a McDonald's commercial......Over "Half a Billion Served".....Can we have 3 quarters by the close????? LOL