IDS Issues Clarification of Today's Earlier Press Release
Wednesday August 16, 1:37 pm ET
HLS Buyout Not Delayed Until October 5, 2006
ORLANDO, FL--(MARKET WIRE)--Aug 16, 2006 -- IDS Worldwide, Inc. (Other OTC:IDWD.PK - News) has received numerous calls and emails from investors incorrectly interpreting today's earlier release. The Special Dividend and its related CUSIP Number and SB-2 filing is only being done the 1st week of October to coincide with the quarter-end audits of September 30, 2006. These audits must be completed for the quarter to complete the SB-2 Filing which has been drafted with only the audits figured to be added at the end of the quarter.
The HLS cash buyout for $2.35 per share will not be delayed by quarter-end audits. The day after the tender documents are approved, IDS Worldwide, Inc. will announce pre-market that the deal is signed and closed for qualified shareholders of record for all outstanding common shares of IDS stock held by the public. If the paperwork is completed this week in Dubai the documents will be submitted immediately. IDS will not have any advanced notice of timing until it releases the pre-market notification that the buyout is tender offer is approved.
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