And a second one...
Delivery Technology Solutions, Inc. announces plans to refine its share structure using several methods including a share buyback program
PR Newswire
RATON, FL., Sep. 30, 2014
RATON, FL., Sep 30, 2014 /PRNewswire/ -- Delivery Technology Solutions, Inc., (OTCPink : DTSL) today announced that it has plans to begin buying back shares in the open market in order to increase shareholder value and position the company as either a favorable acquisition target, or for listing on a higher reporting market in the future. However, senior management vows not to reverse split the company.
"We decided right from the start not to reverse split the company because it would hurt the existing shareholders who purchased equity under the previous business model," said the new company CEO, who went on to say, "For that reason, we have to be diligent about using a more organic share reduction strategy, including buying back as many shares as we can in the open market and cancelling them completely. I was very hesitant about setting up a share re-purchase program because it seems like every pink sheet company with a large number of outstanding shares says the same thing, but in our case, we actually do what we say we will, and we have the ability to do it without raising more money, so it only makes sense."
The company wants to make sure that the share structure is attractive to larger firms looking for an acquisition, in the event that becomes the best route to take. The company also wants to be ready for listing on a fully reporting market by the end of next year as a longer-term plan. The company made sure there was enough initial investment on the table to acquire shares in the market without having to do secondary funding, at least until the company was in a position to turn away any types of money that would be detrimental to the company's short and long-term value. Delivery Technology Solutions, Inc. has no plans to acquire more debt or do any "shortcut financing", so share structure was one of the first concerns when putting the original deal together.
The CEO wants the shareholders to know that while building the business is his top priority, he is also very sensitive to the needs of the shareholders, and always looks for ways to increase their value without slowing down progress. In addition to the many business strategies being implemented, PR is one in which a long-term plan and schedule is already in motion.
About: Universal Delivery Solutions, Inc.
www.universaldelivery.com is the leader in providing comprehensive custom-developed catering/delivery solutions to industries throughout North America. Universal Delivery Solutions, Inc. (UDS) is wholly-owned operating subsidiary of Delivery Technology Solutions Inc. The company offers blended solutions through a seamless system that integrates Customer Relationship Management (CRM) and Call Center IT services utilizing a proprietary technology backbone to offer convenience, consistent quality, flexibility, accountability and value for consumers and companies.
DISCLAIMER
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
SOURCE Delivery Technology Solutions, Inc.,
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The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
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