Extract from January 10 PR:
Viola looking to make it to NYSE following the acquisitions of the subsidiaries. That's huge!!! $DCAC
As the subsidiary acquisition(s) are completed an S-1 Registration will be prepared and filed for each and shares, as a dividend, distributed to the shareholder base of Daniels, ("DCAC").
This approach will create the avenues to raise capital while lowering the overall cost through the use of multiple subsidiary stocks in the DCAC portfolio. It will also allow DCAC (the Parent) to arrange a major transaction for itself, one that can be financed through private equity firms. This type of financing is longer term in nature ( financing for five to seven years) and the firms that provide it also provide senior and operating management support if called upon to do so.
The down payment and initial working capital amounts for the acquisition transactions for the subsidiaries will be provided by Arthur D. Viola, Chairman & CEO of Daniels ("DCAC"). The discounted amount of his back Salary/Compensation (now at $685,000) has been converted to an aged Convertible Preferred with the same features and rights that a normal Hedge Fund Convertible Note encompasses. Allowing for the customary discount to market on the sales of these shares. a significant amount of 'longer term" capital, estimated at $1,370,000 can be raised.
In the very near future, the updated financial statements will be filed with the SEC bring DCAC to up to date status as an up to date, fully-reporting public company. Upon their filing, an S-1 Registration will be filed to register Mr. Viola's shares. Block sales to institutional investors, those with longer term investment horizons, are contemplated. Initial contact has already been made with several firms that like the overall Daniels model and also the fact that the creator of the model, Arthur Viola, is willing to pledge all his compensation for the benefit of DCAC and its shareholder base.
Mr. Viola stated " With the conversion of all my all my back salary/compensation for acquisition down payment and working capital amounts and the use of multiple public subsidiary stocks - (with small initial floats and higher stock valuations),- as additional acquisition tender, Daniels (the parent) should be able to make a major acquisition, one that will make Major Exchange Listing. I am "all in" and hope the shareholder base will be as well, by continuing to be patience and giving us the addition time necessary to make DCAC a major success story." I am not getting any younger, this will happen as fast as humanly possible and be for the benefit of all the shareholders."
