$DCAC to Issue Preferred Stock; Protects Shareholders
Daniels Corporate Advisory Company, Inc. to Issue Preferred Stock; Protects Shareholders
The New Agenda
NEW YORK, NY--(Marketwired - Feb 26, 2016) - Daniels Corporate Advisory Company, Inc. (OTCQB: DCAC) ("the Company") is pleased to announce that the corporation and Board of Directors is set to issue a specific class of Anti-Dilutive Convertible Preferred Securities to all of its common shareholders.
CEO Arthur D. Viola states, "We are removing the compounding convertible debt off our balance sheet because it is a derivative liability that would have hampered DCAC's future growth prospects. We knew that signing off on these issuance resolutions might create fluctuation in shareholder value, but it was a necessary step forward, in order to attract new equity to our balance sheet, and start meeting the objectives of our New Agenda. We have thus come up with a solution to protect our stockholders from the losses they incurred in the open market."
DCAC will issue one (1) Restricted Anti-Dilutive Convertible Preferred Share of the Company for every 100,000 shares held as of Record Date April 15th, 2016, to stockholders who are on the NOBO list.
These shares are priced at $2.50 per share, but convert at a par value .00001. These Restricted Convertible Preferred shares will serve as the redemption for the dilution of shareholders investments in the open market, through the debt conversions.
The shares are restricted for six months. Upon maturity, the Company will ask preferred stockholders to convert 1 or 2 preferred shares into 100,000 / 200,000 common shares, through a Transfer Agent. Each shareholder keeps their present common shares and will be required to show proof of purchase, which can include a processed cheque, bank statement, wire receipt or other verifiable evidence of each purchase.
"The Company is also negotiating to acquire several profitable enterprises as wholly owned subsidiaries, for Convertible Preferred Stock to meet the $4,000,000 shareholder equity threshold to qualify for a listing on a NYSE MKT," adds Viola. "Much more information will be forthcoming on these companies as DCAC moves to closure on each of these agreements."
"We thank all shareholders for their continued support. As we meet certain milestones, the investment community will be more thoroughly aware of this through our disclosures and public records," closes Viola.
