DAAT +13% on share buyback PR this AM:
DAC Technologies Announces Stock Buy-Back Plan
April 24, 2007 - 8:45 AM EDT
DAC Technologies (OTCBB: DAAT) today announced plans to buy back up to 200,000 shares of its common stock. At its current price, the Company believes its shares are undervalued, and reducing the number of shares outstanding would be a prudent use of corporate funds.
In addition, David A. Collins, Chairman and CEO, recently purchased 10,000 shares of the Company's common stock as evidenced by his Form 4 filing on April 9, 2007.
DAC Technologies Group International, Inc. is an outsource manufacturer of high quality, reasonably priced security safes, gunlocks, gun cleaning kits and security products, as well as accessory items for the sporting goods market. DAC distributes its products through mass merchandisers such as Wal-Mart and Kmart, and sporting goods retailers and distributors such as Dick's, Big Five, Cabela's, Acusport, Jerry's, RSR and others. DAC also provides gunlocks to OEM gun manufacturers such as Glock, SigArms, Savage, Marlin and Taurus, as well as others. Also, DAC's products are distributed through catalog companies.
The Private Securities Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in written statements to be made) contain statements that are forward looking, such as those relating to consummation of the transaction, anticipated future revenue of the Company's and success of current public offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements.
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Source: Market Wire (April 24, 2007 - 8:45 AM EDT)