SMMW
Summus Works, Inc. Announces Dividend to Shareholders
Sep 22, 2006 8:00:00 AM
DENVER, CO -- (MARKET WIRE) -- 09/22/06 -- Summus Works, Inc. (PINKSHEETS: SMMW) announced it will distribute one million shares of Atlantis Holding Corp. common stock (PINKSHEETS: AHDG) to Summus Works' shareholders by way of a dividend. After consultation with the Company's legal counsel and transfer agent, the Board of Directors resolved to directly award beneficial owners of Summus Works in accordance with the Company's anti-abusive short selling program. Management noted that in addition to rewarding shareholders, the process by which shareholders will receive their dividend shares will also serve to deter abusive short selling of the Company's stock by forcing the cover of outstanding short sales.
The logistical details of the dividend as well as instructions for shareholders to receive AHDG shares are being drafted by the Company's legal counsel and will be issued in an upcoming press release, management stated.
The restricted shares of AHDG common stock were acquired by the Company as compensation for services contracted by Atlantis Holding Corp. Under the agreement, Summus Works will design and implement a corporate branding, marketing and advertising initiative for Atlantis Holding Corp. and its subsidiaries.
Atlantis Holding Corp is a Tustin, California-based holding company with subsidiaries in two primary divisions including an Environmental and Engineering Services Division and its Automotive Division. For more information on Atlantis Holding Corp. visit www.atlantisholdingcorp.com.
Summus Works, Inc. (PINKSHEETS: SMMW) is a multi-media holding company with interests in outdoor sports, retail, e-tail, print, web, television and film. For more information on the company or its outdoor sports and media subsidiaries, visit www.summusworks.com.
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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Stuart T. Smith
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Company Contact:
Summus Works, Inc.
Dan Burgess
888-607-9495
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